First Foundation Advisors Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

by · The Cerbat Gem

First Foundation Advisors increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 6.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,977 shares of the medical research company’s stock after purchasing an additional 126 shares during the period. First Foundation Advisors’ holdings in Thermo Fisher Scientific were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in Thermo Fisher Scientific by 3.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 681,679 shares of the medical research company’s stock valued at $392,899,000 after buying an additional 24,376 shares during the period. American Trust boosted its position in Thermo Fisher Scientific by 13.2% in the 1st quarter. American Trust now owns 6,743 shares of the medical research company’s stock valued at $3,886,000 after buying an additional 784 shares during the period. Sterling Investment Management LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at approximately $1,074,000. Alta Capital Management LLC boosted its position in Thermo Fisher Scientific by 5.1% in the 2nd quarter. Alta Capital Management LLC now owns 88,286 shares of the medical research company’s stock valued at $46,064,000 after buying an additional 4,307 shares during the period. Finally, First Manhattan CO. LLC. raised its holdings in shares of Thermo Fisher Scientific by 11.2% in the 1st quarter. First Manhattan CO. LLC. now owns 724,844 shares of the medical research company’s stock valued at $417,779,000 after purchasing an additional 72,792 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.8 %

TMO stock opened at $491.60 on Wednesday. The company has a market cap of $189.94 billion, a P/E ratio of 32.21, a P/E/G ratio of 3.01 and a beta of 0.83. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $609.85. The company’s 50-day moving average price is $474.28 and its 200 day moving average price is $510.56. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $5.69 EPS for the quarter, topping analysts’ consensus estimates of $5.61 by $0.08. The firm had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.60 billion. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.08 earnings per share. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.17%.

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Tuesday, November 14th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TMO. TheStreet lowered shares of Thermo Fisher Scientific from a “b-” rating to a “c+” rating in a report on Monday, November 6th. Raymond James reduced their price objective on shares of Thermo Fisher Scientific from $580.00 to $515.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Citigroup cut their price target on shares of Thermo Fisher Scientific from $625.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Stifel Nicolaus cut their price target on shares of Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $593.94.

Read Our Latest Stock Report on Thermo Fisher Scientific

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $454.41, for a total value of $4,544,100.00. Following the sale, the chief executive officer now owns 131,175 shares of the company’s stock, valued at $59,607,231.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Company Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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