Purkiss Capital Advisors LLC Purchases 1,023 Shares of Thermo Fisher Scientific Inc. $TMO

Purkiss Capital Advisors LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,478 shares of the medical research company’s stock after acquiring an additional 1,023 shares during the period. Thermo Fisher Scientific makes up 1.0% of Purkiss Capital Advisors LLC’s portfolio, making the stock its 21st biggest holding. Purkiss Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,172,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Patton Fund Management Inc. acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth $210,000. Charles Schwab Trust Co increased its holdings in shares of Thermo Fisher Scientific by 50.2% during the 2nd quarter. Charles Schwab Trust Co now owns 673 shares of the medical research company’s stock worth $273,000 after purchasing an additional 225 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 24.5% during the second quarter. Avior Wealth Management LLC now owns 4,096 shares of the medical research company’s stock valued at $1,661,000 after buying an additional 806 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In other news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s 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 completion of the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Lisa P. Britt sold 1,058 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. The trade was a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 124,517 shares of company stock valued at $72,363,568 over the last three months. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $625.42 on Monday. The firm has a market capitalization of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.11 and a beta of 0.91. The stock has a fifty day moving average price of $590.88 and a two-hundred day moving average price of $532.39. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week 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.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TMO shares. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Friday. Leerink Partners upped their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $580.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, October 8th. Finally, UBS Group increased their price objective on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $625.47.

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.