Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Increased by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 802 shares of the medical research company’s stock after purchasing an additional 28 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Thermo Fisher Scientific were worth $496,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TMO. State Street Corp boosted its stake in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after acquiring an additional 124,996 shares in the last quarter. FMR LLC boosted its position in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. Fisher Asset Management LLC raised its position in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Thermo Fisher Scientific by 32.2% during the 2nd 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in Thermo Fisher Scientific by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,443,937 shares of the medical research company’s stock worth $1,511,746,000 after acquiring an additional 61,017 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.5 %

NYSE:TMO opened at $520.82 on Friday. The business’s 50-day simple moving average is $559.78 and its 200-day simple moving average is $576.07. Thermo Fisher Scientific Inc. has a fifty-two week low of $488.02 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market capitalization of $199.21 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.69 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 completion of the sale, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TMO shares. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America lifted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target 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.