Trueblood Wealth Management LLC Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Trueblood Wealth Management LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,193 shares of the medical research company’s stock after acquiring an additional 57 shares during the period. Trueblood Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,141,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp raised its stake in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares during the period. FMR LLC increased its holdings in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after purchasing an additional 65,586 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Price Performance

TMO stock opened at $559.72 on Monday. The firm has a 50 day simple moving average of $529.96 and a two-hundred day simple moving average of $568.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $214.09 billion, a PE ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating 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 business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the firm earned $5.69 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

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.