Peloton Wealth Strategists Has $8.04 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Peloton Wealth Strategists reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,996 shares of the medical research company’s stock after selling 401 shares during the quarter. Thermo Fisher Scientific comprises approximately 3.2% of Peloton Wealth Strategists’ holdings, making the stock its 2nd biggest position. Peloton Wealth Strategists’ holdings in Thermo Fisher Scientific were worth $8,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its holdings in Thermo Fisher Scientific by 10.5% during the 3rd quarter. Groupama Asset Managment now owns 231,280 shares of the medical research company’s stock worth $143,063,000 after purchasing an additional 22,009 shares during the last quarter. Roffman Miller Associates Inc. PA lifted its holdings in shares of Thermo Fisher Scientific by 1.8% during the third quarter. Roffman Miller Associates Inc. PA now owns 35,869 shares of the medical research company’s stock worth $22,187,000 after buying an additional 647 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 292,666 shares of the medical research company’s stock valued at $181,034,000 after acquiring an additional 10,462 shares in the last quarter. MML Investors Services LLC increased its position in Thermo Fisher Scientific by 7.1% during the third quarter. MML Investors Services LLC now owns 51,313 shares of the medical research company’s stock worth $31,741,000 after acquiring an additional 3,386 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $26,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TMO. Barclays dropped their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $529.36 on Monday. The company has a market capitalization of $202.48 billion, a P/E ratio of 33.19, a PEG ratio of 3.56 and a beta of 0.77. The company has a fifty day moving average price of $558.08 and a 200-day moving average price of $575.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a 52-week low of $488.02 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $5.69 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.