Whittier Trust Co. of Nevada Inc. Boosts Stock Position in Thermo Fisher Scientific Inc. $TMO

Whittier Trust Co. of Nevada Inc. increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,663 shares of the medical research company’s stock after buying an additional 13,904 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Thermo Fisher Scientific were worth $26,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Financial Management Network Inc. raised its position in Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after purchasing an additional 18 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after acquiring an additional 19 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% in the fourth 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. Finally, S.A. Mason LLC grew its holdings in shares of Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock worth $155,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,913 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the sale, the chief operating officer owned 65,480 shares in the company, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 131,767 shares of company stock worth $76,467,793 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TMO. UBS Group increased their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and raised their target price for the stock from $580.00 to $660.00 in a research note on Thursday, December 11th. Morgan Stanley upped their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Evercore ISI restated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, Argus boosted their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $625.47.

Thermo Fisher Scientific Stock Performance

Shares of 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 firm has a market capitalization of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $590.88 and a two-hundred day simple moving average of $531.60.

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, topping the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same period last year, the business earned $5.28 EPS. Thermo Fisher Scientific’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is currently 9.94%.

About Thermo Fisher Scientific

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.