Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,135 shares of the medical research company’s stock after purchasing an additional 185 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Thermo Fisher Scientific were worth $1,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at about $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Signature Resources Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth approximately $29,000. Finally, Stephens Consulting LLC boosted its stake in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TMO. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein reduced their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada cut their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, TD Cowen raised their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Down 1.8 %

Shares of Thermo Fisher Scientific stock opened at $524.86 on Friday. The firm has a market cap of $200.76 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 3.59 and a beta of 0.77. The stock has a 50-day simple moving average of $551.83 and a 200-day simple moving average of $574.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the company posted $5.69 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid 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 0.30%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

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

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock valued at $25,954,465 in the last 90 days. 0.34% of the stock is currently owned by insiders.

About Thermo Fisher Scientific

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.