Thermo Fisher Scientific Inc. (NYSE:TMO) is Front Barnett Associates LLC’s 2nd Largest Position

Front Barnett Associates LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,174 shares of the medical research company’s stock after selling 653 shares during the quarter. Thermo Fisher Scientific accounts for 6.1% of Front Barnett Associates LLC’s holdings, making the stock its 2nd largest holding. Front Barnett Associates LLC’s holdings in Thermo Fisher Scientific were worth $37,042,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TMO. Ipswich Investment Management Co. Inc. raised its position in shares of Thermo Fisher Scientific by 0.5% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 7,773 shares of the medical research company’s stock worth $2,283,000 after acquiring an additional 35 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its position in Thermo Fisher Scientific by 2.0% during the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,813 shares of the medical research company’s stock valued at $528,000 after buying an additional 36 shares in the last quarter. Landmark Bank increased its position in Thermo Fisher Scientific by 0.3% during the 3rd quarter. Landmark Bank now owns 13,623 shares of the medical research company’s stock valued at $3,968,000 after buying an additional 40 shares in the last quarter. Arvest Bank Trust Division increased its position in Thermo Fisher Scientific by 2.8% during the 3rd quarter. Arvest Bank Trust Division now owns 1,454 shares of the medical research company’s stock valued at $424,000 after buying an additional 40 shares in the last quarter. Finally, MBM Wealth Consultants LLC increased its position in Thermo Fisher Scientific by 2.9% during the 3rd quarter. MBM Wealth Consultants LLC now owns 1,442 shares of the medical research company’s stock valued at $420,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.

Shares of TMO stock traded up $1.11 during mid-day trading on Friday, reaching $294.65. The stock had a trading volume of 787,876 shares, compared to its average volume of 1,323,858. The business’s fifty day moving average is $290.14 and its 200-day moving average is $283.57. The company has a current ratio of 1.80, a quick ratio of 1.23 and a debt-to-equity ratio of 0.56. The firm has a market cap of $117.34 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.90 and a beta of 1.14. Thermo Fisher Scientific Inc. has a 1-year low of $208.34 and a 1-year high of $306.00.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.06. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.19 billion. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.62 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 12.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.

TMO has been the topic of several recent analyst reports. Robert W. Baird upped their target price on Thermo Fisher Scientific from $305.00 to $319.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Needham & Company LLC upped their target price on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. ValuEngine lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $314.45.

In other news, CEO Marc N. Casper sold 2,271 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $298.00, for a total value of $676,758.00. Following the transaction, the chief executive officer now directly owns 283,502 shares of the company’s stock, valued at $84,483,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 47,729 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $295.88, for a total value of $14,122,056.52. Following the completion of the transaction, the chief executive officer now directly owns 328,960 shares in the company, valued at $97,332,684.80. The disclosure for this sale can be found here. Insiders sold 51,833 shares of company stock worth $15,299,095 over the last three months. Corporate insiders own 0.45% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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