Abacus Wealth Partners LLC Acquires New Shares in Thermo Fisher Scientific Inc. (NYSE:TMO)

Abacus Wealth Partners LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 462 shares of the medical research company’s stock, valued at approximately $286,000.

A number of other large investors have also modified their holdings of TMO. Capital World Investors grew its stake in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB purchased a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $705,636,000. Veritas Asset Management LLP boosted its position in Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after buying an additional 697,383 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares during the last quarter. Finally, Putnam Investments LLC lifted its holdings in Thermo Fisher Scientific by 28.5% in the fourth quarter. Putnam Investments LLC now owns 1,719,355 shares of the medical research company’s stock valued at $912,617,000 after acquiring an additional 381,542 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 over the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a report on Friday, September 20th. TD Cowen boosted their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday. They set an “overweight” rating and a $680.00 target price for the company. Finally, Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $600.92 on Friday. The stock’s 50-day simple moving average is $609.63 and its 200-day simple moving average is $582.66. The firm has a market capitalization of $229.55 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the business posted $5.15 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.