Cobblestone Capital Advisors LLC NY Has $484,000 Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cobblestone Capital Advisors LLC NY grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.6% in the third quarter, HoldingsChannel reports. The fund owned 783 shares of the medical research company’s stock after acquiring an additional 100 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Thermo Fisher Scientific were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. FMR LLC increased its stake in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Fisher Asset Management LLC increased 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 acquiring an additional 65,586 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in 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 acquiring an additional 604,895 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Thermo Fisher Scientific by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,443,937 shares of the medical research company’s stock valued at $1,511,746,000 after purchasing an additional 61,017 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Thermo Fisher Scientific by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,487 shares of the medical research company’s stock worth $1,338,268,000 after purchasing an additional 19,536 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Thermo Fisher Scientific Stock Performance

TMO opened at $529.63 on Monday. The firm has a market cap of $202.58 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The business’s fifty day moving average is $566.33 and its 200-day moving average is $577.69. Thermo Fisher Scientific Inc. has a 52-week low of $487.06 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm 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%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $5.69 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Bernstein Bank raised their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein dropped their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.