Tidal Investments LLC Has $36.31 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Tidal Investments LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 273.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,703 shares of the medical research company’s stock after purchasing an additional 43,003 shares during the period. Tidal Investments LLC’s holdings in Thermo Fisher Scientific were worth $36,312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Signature Resources Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific during the third quarter worth about $27,000. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth about $29,000. Finally, Stephens Consulting LLC boosted its holdings 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 acquiring an additional 29 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded down $7.49 during mid-day trading on Thursday, hitting $526.87. 158,638 shares of the stock were exchanged, compared to its average volume of 1,529,688. The company has a market cap of $201.53 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. 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 52-week low of $493.30 and a 52-week high of $627.88. The firm has a fifty day moving average of $553.35 and a 200 day moving average of $574.46.

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

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TMO. Sanford C. Bernstein decreased their target price on 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. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four equities research 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 company. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

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.