Veritas Asset Management LLP boosted its stake in Thermo Fisher Scientific Inc (NYSE:TMO) by 44.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,503,259 shares of the medical research company’s stock after buying an additional 1,072,500 shares during the quarter. Thermo Fisher Scientific makes up approximately 5.4% of Veritas Asset Management LLP’s portfolio, making the stock its 9th largest holding. Veritas Asset Management LLP owned approximately 0.90% of Thermo Fisher Scientific worth $662,817,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Covington Capital Management lifted its stake in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Covington Capital Management now owns 2,144 shares of the medical research company’s stock valued at $374,000 after buying an additional 20 shares in the last quarter. Investment Centers of America Inc. lifted its stake in Thermo Fisher Scientific by 1.6% in the 2nd quarter. Investment Centers of America Inc. now owns 1,317 shares of the medical research company’s stock valued at $230,000 after buying an additional 21 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Thermo Fisher Scientific by 0.4% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 6,250 shares of the medical research company’s stock valued at $1,090,000 after buying an additional 23 shares in the last quarter. Azimuth Capital Management LLC lifted its stake in Thermo Fisher Scientific by 0.8% in the 1st quarter. Azimuth Capital Management LLC now owns 3,210 shares of the medical research company’s stock valued at $493,000 after buying an additional 25 shares in the last quarter. Finally, Bienville Capital Management LLC lifted its stake in Thermo Fisher Scientific by 1.6% in the 2nd quarter. Bienville Capital Management LLC now owns 1,687 shares of the medical research company’s stock valued at $295,000 after buying an additional 27 shares in the last quarter. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TMO. Deutsche Bank AG set a $226.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Leerink Swann raised their target price on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an “outperform” rating in a research note on Monday, October 9th. Cowen Inc reissued an “outperform” rating and issued a $220.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday, September 10th. Finally, Barclays PLC reissued an “overweight” rating and issued a $215.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Monday, September 25th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $205.71.

Thermo Fisher Scientific Inc (NYSE:TMO) traded up $0.75 during mid-day trading on Friday, hitting $193.51. 374,481 shares of the stock traded hands, compared to its average volume of 1,510,000. The stock has a market cap of $77,190.00, a price-to-earnings ratio of 21.26, a PEG ratio of 1.77 and a beta of 1.08. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.85. Thermo Fisher Scientific Inc has a 1 year low of $139.07 and a 1 year high of $201.20.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.07. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.03 billion. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 EPS. sell-side analysts forecast that Thermo Fisher Scientific Inc will post 9.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s payout ratio is presently 10.19%.

In other news, VP Seth H. Hoogasian sold 4,140 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $177.80, for a total transaction of $736,092.00. Following the sale, the vice president now owns 25,518 shares of the company’s stock, valued at approximately $4,537,100.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Martin Harris sold 360 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $180.97, for a total transaction of $65,149.20. Following the sale, the director now directly owns 5,312 shares in the company, valued at approximately $961,312.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,420 shares of company stock worth $11,308,477. Corporate insiders own 0.49% of the company’s stock.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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