Brown Shipley& Co Ltd Has $8.19 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Brown Shipley& Co Ltd decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,240 shares of the medical research company’s stock after selling 3,210 shares during the quarter. Thermo Fisher Scientific accounts for about 4.0% of Brown Shipley& Co Ltd’s holdings, making the stock its 10th biggest holding. Brown Shipley& Co Ltd’s holdings in Thermo Fisher Scientific were worth $8,190,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BDF Gestion bought a new position in shares of Thermo Fisher Scientific in the second quarter worth $6,368,000. Nisa Investment Advisors LLC grew its position in Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after buying an additional 8,180 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Thermo Fisher Scientific by 29.2% during the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after buying an additional 1,214 shares in the last quarter. Simplify Asset Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after acquiring an additional 5,546 shares during the period. Finally, Simmons Bank increased its stake in shares of Thermo Fisher Scientific by 60.2% during the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock valued at $5,087,000 after acquiring an additional 3,090 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $521.67 on Thursday. 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 company has a market capitalization of $199.54 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 3.40 and a beta of 0.79. The business’s 50-day moving average is $569.98 and its 200-day moving average is $578.78. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the firm earned $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TMO shares. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein lowered their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,150 shares of company stock worth $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company 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.