Thermo Fisher Scientific Inc. $TMO Shares Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 45.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,500 shares of the medical research company’s stock after purchasing an additional 1,719 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,668,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares during the period. Patton Fund Management Inc. acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $210,000. Venture Visionary Partners LLC grew its position in Thermo Fisher Scientific by 14.6% in the second quarter. Venture Visionary Partners LLC now owns 3,707 shares of the medical research company’s stock worth $1,503,000 after acquiring an additional 472 shares during the period. Finally, XML Financial LLC raised its position in Thermo Fisher Scientific by 10.1% in the second quarter. XML Financial LLC now owns 1,056 shares of the medical research company’s stock valued at $428,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TMO shares. Citigroup upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and increased their price target for the stock from $580.00 to $660.00 in a report on Thursday, December 11th. Evercore ISI reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Argus lifted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Leerink Partners upped their price target on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $608.00 on Thursday. The company’s 50 day moving average is $593.74 and its two-hundred day moving average is $535.61. The firm has a market cap of $228.43 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

Thermo Fisher Scientific announced that its board has authorized a share buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 124,517 shares of company stock worth $72,363,568 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.