Procyon Private Wealth Partners LLC Acquires 185 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Procyon Private Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,992 shares of the medical research company’s stock after buying an additional 185 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,138,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TMO. IFP Advisors Inc lifted its position in shares of Thermo Fisher Scientific by 4.1% during the second quarter. IFP Advisors Inc now owns 11,119 shares of the medical research company’s stock worth $5,658,000 after purchasing an additional 439 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Thermo Fisher Scientific by 14.2% in the second quarter. Alliancebernstein L.P. now owns 1,092,655 shares of the medical research company’s stock valued at $551,212,000 after buying an additional 136,094 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Thermo Fisher Scientific by 3.5% in the second quarter. Oppenheimer & Co. Inc. now owns 44,189 shares of the medical research company’s stock valued at $22,292,000 after buying an additional 1,487 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Thermo Fisher Scientific by 5.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,419,749 shares of the medical research company’s stock valued at $716,221,000 after buying an additional 69,199 shares during the period. Finally, Ativo Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 6.9% in the second quarter. Ativo Capital Management LLC now owns 5,384 shares of the medical research company’s stock valued at $2,716,000 after buying an additional 348 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Thermo Fisher Scientific stock opened at $633.00 on Thursday. The firm has a market capitalization of $249.43 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $606.29 and its 200 day moving average is $544.24. Thermo Fisher Scientific Inc. has a 1 year low of $433.52 and a 1 year high of $651.57.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 27th. The medical research company reported $5.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $1.09. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $8.41 billion. Thermo Fisher Scientific had a net margin of 21.93% and a return on equity of 28.14%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.63 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.4 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Thursday, September 23rd that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire 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 stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Wednesday, December 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Tuesday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 4.83%.

In other news, CFO Stephen Williamson sold 22,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $638.10, for a total value of $14,389,155.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mark Stevenson sold 26,925 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

TMO has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Thermo Fisher Scientific in a research report on Thursday, October 28th. They set an “overweight” rating for the company. BTIG Research raised their target price on shares of Thermo Fisher Scientific from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. SVB Leerink raised their target price on shares of Thermo Fisher Scientific from $675.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $595.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, September 21st. Finally, Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $635.00 to $657.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $613.89.

About Thermo Fisher Scientific

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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