Thermo Fisher Scientific Inc. $TMO Stock Position Lifted by Jennison Associates LLC

Jennison Associates LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 51.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,467 shares of the medical research company’s stock after acquiring an additional 85,475 shares during the quarter. Jennison Associates LLC’s holdings in Thermo Fisher Scientific were worth $121,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hunter Associates Investment Management LLC lifted its position in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 11,284 shares of the medical research company’s stock worth $5,473,000 after buying an additional 84 shares during the last quarter. Westfuller Advisors LLC raised its stake in Thermo Fisher Scientific by 160.7% during the third quarter. Westfuller Advisors LLC now owns 1,348 shares of the medical research company’s stock worth $654,000 after acquiring an additional 831 shares during the period. Delta Financial Advisors LLC bought a new position in Thermo Fisher Scientific in the third quarter worth about $776,000. Lockheed Martin Investment Management Co. grew its holdings in shares of Thermo Fisher Scientific by 45.3% during the third quarter. Lockheed Martin Investment Management Co. now owns 11,160 shares of the medical research company’s stock valued at $5,413,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 14.6% in the 3rd quarter. Hudson Value Partners LLC now owns 10,614 shares of the medical research company’s stock worth $5,148,000 after purchasing an additional 1,356 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TMO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Argus increased their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Leerink Partners lifted their price target on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Redburn Partners set a $580.00 price objective on Thermo Fisher Scientific in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Trading Down 2.2%

Thermo Fisher Scientific stock opened at $625.42 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. 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 has a market capitalization of $234.98 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91. The firm has a 50 day simple moving average of $590.88 and a 200-day simple moving average of $530.87.

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

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares in the company, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 131,767 shares of company stock worth $76,467,793 in the last ninety 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.