OneAscent Financial Services LLC Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

OneAscent Financial Services LLC bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 581 shares of the medical research company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC raised its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares in the last quarter. Finally, Bank & Trust Co purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 over the last three months. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 2.3 %

NYSE:TMO opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a twelve month low of $465.90 and a twelve month high of $627.88. The company has a market cap of $191.82 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The stock has a fifty day simple moving average of $584.05 and a 200-day simple moving average of $581.90. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific declared that its board has initiated a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TMO shares. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.