Prospera Financial Services Inc Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Prospera Financial Services Inc grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,549 shares of the medical research company’s stock after purchasing an additional 746 shares during the quarter. Prospera Financial Services Inc’s holdings in Thermo Fisher Scientific were worth $2,816,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after purchasing an additional 156,675 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Thermo Fisher Scientific by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,740,482 shares of the medical research company’s stock worth $962,482,000 after buying an additional 20,075 shares during the period. Unisphere Establishment boosted its stake in shares of Thermo Fisher Scientific by 7.1% during the second quarter. Unisphere Establishment now owns 1,500,000 shares of the medical research company’s stock worth $829,500,000 after buying an additional 100,000 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after buying an additional 1,414,556 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.7 %

Shares of TMO opened at $512.86 on Thursday. The firm has a market cap of $196.17 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company’s fifty day moving average is $579.63 and its two-hundred day moving average is $580.98. Thermo Fisher Scientific Inc. has a fifty-two week low of $476.45 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business earned $5.69 EPS. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TMO shares. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada dropped their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $649.33.

About Thermo Fisher Scientific

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.