Strs Ohio Has $121.99 Million Stake in Thermo Fisher Scientific Inc. $TMO

Strs Ohio raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,524 shares of the medical research company’s stock after acquiring an additional 28,867 shares during the quarter. Strs Ohio owned approximately 0.07% of Thermo Fisher Scientific worth $121,994,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Management Network Inc. boosted its stake in shares of Thermo Fisher Scientific by 3.7% during the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after buying an additional 18 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after purchasing an additional 19 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Argus raised their price target 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. TD Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday, January 7th. Barclays upped their price target on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a report on Wednesday, October 8th. Finally, Stifel Nicolaus increased their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $639.03 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The stock’s fifty day simple moving average is $589.96 and its 200 day simple moving average is $529.43. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The firm has a market cap of $240.09 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 4.19 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the previous year, the company earned $5.28 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares in the company, valued at $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were 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 of the company’s stock, valued at $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,767 shares of company stock worth $76,467,793 over the last 90 days. Insiders own 0.33% of the company’s stock.

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.