Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 244,352 shares of the medical research company’s stock after buying an additional 22,396 shares during the period. Thermo Fisher Scientific makes up about 1.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 27th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Thermo Fisher Scientific were worth $113,815,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. grew its holdings in Thermo Fisher Scientific by 287,808.7% during the third quarter. Alps Advisors Inc. now owns 1,954,900 shares of the medical research company’s stock worth $1,634,000 after buying an additional 1,954,221 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $280,017,000. AKO Capital LLP purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $192,228,000. CIBC Private Wealth Group LLC raised its holdings in shares of Thermo Fisher Scientific by 62.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,107,720 shares of the medical research company’s stock valued at $488,887,000 after acquiring an additional 427,229 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Thermo Fisher Scientific by 3.3% in the 2nd quarter. FMR LLC now owns 11,621,011 shares of the medical research company’s stock valued at $4,210,756,000 after acquiring an additional 376,531 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
In other Thermo Fisher Scientific news, COO Mark Stevenson sold 14,113 shares of the business’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $476.46, for a total transaction of $6,724,279.98. Following the completion of the sale, the chief operating officer now owns 58,005 shares of the company’s stock, valued at $27,637,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $479.94, for a total value of $4,799,400.00. Following the sale, the chief executive officer now directly owns 228,694 shares of the company’s stock, valued at approximately $109,759,398.36. The disclosure for this sale can be found here. Insiders have sold 38,246 shares of company stock valued at $18,220,461 in the last three months. 0.44% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 21st. The medical research company reported $5.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.37 by $1.26. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same quarter in the previous year, the company posted $2.94 earnings per share. Thermo Fisher Scientific’s revenue was up 31.6% compared to the same quarter last year. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 15.99 EPS for the current fiscal year.
Thermo Fisher Scientific announced that its board has initiated a stock buyback plan on Thursday, November 5th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the medical research company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Monday, December 14th. Thermo Fisher Scientific’s payout ratio is currently 7.13%.
Several analysts have weighed in on the company. Needham & Company LLC raised their price target on Thermo Fisher Scientific from $477.00 to $539.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Atlantic Securities began coverage on Thermo Fisher Scientific in a research report on Wednesday, September 30th. They set an “overweight” rating and a $494.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $460.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, October 5th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research report on Wednesday, December 2nd. They set a “buy” rating and a $570.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Thermo Fisher Scientific from $485.00 to $535.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $492.58.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
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