15,734 Thermo Fisher Scientific Inc. $TMO Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 121.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,646 shares of the medical research company’s stock after buying an additional 15,734 shares during the quarter. Cornerstone Advisors LLC’s holdings in Thermo Fisher Scientific were worth $19,337,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TMO. Compass Financial Management LLC grew its position in Thermo Fisher Scientific by 137.5% in the third quarter. Compass Financial Management LLC now owns 38 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 22 shares in the last quarter. Polaris Financial Partners acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth $32,000. Laurel Wealth Advisors LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter valued at $32,000. Kilter Group LLC purchased a new position in shares of Thermo Fisher Scientific in the second quarter valued at $25,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in Thermo Fisher Scientific by 78.6% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TMO shares. BMO Capital Markets downgraded shares of Thermo Fisher Scientific to a “market perform” rating in a research note on Wednesday, September 9th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from $660.00 to $690.00 in a research report on Tuesday, September 1st. The Goldman Sachs Group raised their target price on Thermo Fisher Scientific from $650.00 to $780.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Scotiabank began coverage on Thermo Fisher Scientific in a research report on Wednesday, September 9th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company cut Thermo Fisher Scientific from an “overweight” rating to an “underweight” rating in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $683.64.

Key Stories Impacting Thermo Fisher Scientific

These are some of the TMO stories that stood out recently:

• Positive Sentiment: Industry reports forecast substantial growth in markets where Thermo Fisher competes, including single-use bioprocessing, cell lysis and fractionation, and cell-culture coatings. These projections point to potential demand tailwinds, but are third-party market estimates, not company-specific forecasts. Article: Single-use bioprocessing market report Article: Cell lysis and fractionation market report Article: Cell culture protein surface coating market report
• Neutral Sentiment: CEO Marc Casper is scheduled to join a UBS fireside chat on November 19. Investors may listen for business commentary, but the announcement itself contains no new financial or operational information. Article: UBS CEO Call Series
• Neutral Sentiment: A recent analysis revisits Thermo Fisher’s $5 billion buyback and cash generation after strong multiyear share gains. The buyback supports capital returns, while the discussion highlights the need for future cash flows to justify expectations; the article excerpt gives no new buyback details or firm valuation conclusion. Article: Is Thermo Fisher reasonable after its $5 billion buyback?

Thermo Fisher Scientific Stock Up 0.1%

Shares of NYSE:TMO opened at $699.98 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $670.82 and a 200 day simple moving average of $556.81. The firm has a market cap of $259.36 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $727.56.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 EPS for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.79 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.27 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.92%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $629.27, for a total transaction of $6,292,700.00. Following the sale, the chief executive officer owned 123,925 shares in the company, valued at $77,982,284.75. This represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total value of $7,014,092.80. Following the transaction, the vice president directly owned 14,784 shares in the company, valued at approximately $9,064,366.08. This represents a 43.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,546 shares of company stock valued at $15,479,192 over the last quarter. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific develops and supplies products and services used in scientific research, clinical diagnostics, and pharmaceutical and biotechnology manufacturing. Its offerings include laboratory instruments, reagents and consumables, analytical equipment, diagnostic tests, and services that support drug development and clinical research. The company operates through businesses focused on life sciences, analytical instruments, specialty diagnostics, and laboratory products and biopharma services.