Chevy Chase Trust Holdings LLC Has $122.36 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chevy Chase Trust Holdings LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 0.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 241,245 shares of the medical research company’s stock after purchasing an additional 2,129 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Thermo Fisher Scientific were worth $122,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. JGP Global Gestao de Recursos Ltda. lifted its position in shares of Thermo Fisher Scientific by 5.8% during the 3rd quarter. JGP Global Gestao de Recursos Ltda. now owns 1,849 shares of the medical research company’s stock worth $938,000 after buying an additional 102 shares during the last quarter. Camden National Bank grew its stake in Thermo Fisher Scientific by 0.6% during the third quarter. Camden National Bank now owns 7,367 shares of the medical research company’s stock worth $3,737,000 after purchasing an additional 44 shares during the period. Total Clarity Wealth Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 3.2% in the third quarter. Total Clarity Wealth Management Inc. now owns 752 shares of the medical research company’s stock valued at $382,000 after purchasing an additional 23 shares in the last quarter. George Kaiser Family Foundation increased its position in Thermo Fisher Scientific by 11.1% in the third quarter. George Kaiser Family Foundation now owns 4,677 shares of the medical research company’s stock worth $2,372,000 after buying an additional 468 shares during the last quarter. Finally, Markel Corp grew its position in Thermo Fisher Scientific by 20.0% during the third quarter. Markel Corp now owns 7,800 shares of the medical research company’s stock worth $3,956,000 after buying an additional 1,300 shares in the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TMO. Barclays raised their target price on Thermo Fisher Scientific from $570.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday. SVB Leerink lifted their price target on shares of Thermo Fisher Scientific from $555.00 to $620.00 and gave the company an “outperform” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 13th. They issued a “buy” rating and a $620.00 price objective for the company. Royal Bank of Canada initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $661.00 price objective on the stock. Finally, StockNews.com initiated coverage on shares of Thermo Fisher Scientific in a report on Wednesday, October 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $633.30.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 8,200 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $487.45, for a total value of $3,997,090.00. Following the completion of the transaction, the chief executive officer now directly owns 178,005 shares of the company’s stock, valued at approximately $86,768,537.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,100 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $493.16, for a total value of $3,994,596.00. Following the sale, the chief executive officer now directly owns 178,005 shares in the company, valued at $87,784,945.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 8,200 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $487.45, for a total value of $3,997,090.00. Following the completion of the transaction, the chief executive officer now directly owns 178,005 shares in the company, valued at approximately $86,768,537.25. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock valued at $16,073,443 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $575.55 on Wednesday. The firm has a market cap of $225.73 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.83. The company has a current ratio of 1.74, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average is $556.73 and its two-hundred day moving average is $547.95. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $618.35.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The medical research company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.30. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $9.86 billion. Thermo Fisher Scientific had a net margin of 15.92% and a return on equity of 22.97%. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.04 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 16th. Stockholders of record on Thursday, December 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Wednesday, December 14th. Thermo Fisher Scientific’s payout ratio is currently 6.75%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan on Thursday, November 10th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

(Get Rating)

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.