Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Balboa Wealth Partners

Balboa Wealth Partners raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.7% in the 3rd quarter, Holdings Channel reports. The fund owned 883 shares of the medical research company’s stock after purchasing an additional 330 shares during the period. Balboa Wealth Partners’ holdings in Thermo Fisher Scientific were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. International Assets Investment Management LLC boosted its stake in shares of Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after buying an additional 1,414,556 shares during the last quarter. Capital World Investors grew its holdings in Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new stake in Thermo Fisher Scientific during the first quarter valued at approximately $705,636,000. Ameriprise Financial Inc. lifted its holdings in Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after acquiring an additional 296,646 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.6 %

Shares of NYSE TMO opened at $533.02 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $463.99 and a 12 month high of $627.88. The company has a market cap of $203.88 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 3.58 and a beta of 0.79. The business has a fifty day simple moving average of $589.87 and a 200-day simple moving average of $583.04.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the business earned $5.69 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average 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 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 transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the 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 transaction, the chief executive officer now directly owns 121,192 shares in the company, 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. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is owned by insiders.

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.