Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Canton Hathaway LLC

Canton Hathaway LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,175 shares of the medical research company’s stock after purchasing an additional 98 shares during the quarter. Canton Hathaway LLC’s holdings in Thermo Fisher Scientific were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. WESPAC Advisors SoCal LLC raised its holdings in Thermo Fisher Scientific by 0.3% during the third quarter. WESPAC Advisors SoCal LLC now owns 17,087 shares of the medical research company’s stock worth $9,772,000 after purchasing an additional 49 shares in the last quarter. Newfound Research LLC raised its holdings in Thermo Fisher Scientific by 24.7% during the third quarter. Newfound Research LLC now owns 222 shares of the medical research company’s stock worth $127,000 after purchasing an additional 44 shares in the last quarter. Marino Stram & Associates LLC grew its position in shares of Thermo Fisher Scientific by 96.4% during the third quarter. Marino Stram & Associates LLC now owns 1,660 shares of the medical research company’s stock worth $948,000 after acquiring an additional 815 shares during the last quarter. Archford Capital Strategies LLC grew its position in Thermo Fisher Scientific by 5.9% in the 3rd quarter. Archford Capital Strategies LLC now owns 2,422 shares of the medical research company’s stock valued at $1,384,000 after buying an additional 136 shares during the last quarter. Finally, Procyon Private Wealth Partners LLC grew its position in Thermo Fisher Scientific by 10.2% in the 3rd quarter. Procyon Private Wealth Partners LLC now owns 1,992 shares of the medical research company’s stock valued at $1,138,000 after buying an additional 185 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Shares of TMO traded up $0.24 during trading on Thursday, reaching $633.00. The company’s stock had a trading volume of 1,283,242 shares, compared to its average volume of 1,530,386. The company has a market cap of $249.43 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 1.93 and a beta of 0.72. Thermo Fisher Scientific Inc. has a twelve month low of $433.52 and a twelve month high of $651.57. The company has a fifty day moving average of $606.29 and a two-hundred day moving average of $544.24. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.56.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 27th. The medical research company reported $5.76 EPS for the quarter, topping the Zacks’ consensus estimate of $4.67 by $1.09. Thermo Fisher Scientific had a return on equity of 28.14% and a net margin of 21.93%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the business earned $5.63 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.4 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Thursday, September 23rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Wednesday, December 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, December 14th. Thermo Fisher Scientific’s payout ratio is currently 4.83%.

In other news, COO Mark Stevenson sold 26,925 shares of the firm’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $632.69, for a total transaction of $17,035,178.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Williamson sold 22,550 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $638.10, for a total value of $14,389,155.00. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Several brokerages recently weighed in on TMO. Cowen boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $696.00 and gave the company an “outperform” rating in a research note on Thursday, October 14th. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $635.00 to $657.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. UBS Group boosted their target price on Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, September 21st. Morgan Stanley initiated coverage on Thermo Fisher Scientific in a report on Thursday, October 28th. They set an “overweight” rating for the company. Finally, Benchmark boosted their target price on Thermo Fisher Scientific from $580.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, September 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $613.89.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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