Chevy Chase Trust Holdings LLC Has $149.86 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chevy Chase Trust Holdings LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,272 shares of the medical research company’s stock after acquiring an additional 32,397 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Thermo Fisher Scientific worth $149,862,000 as of its most recent SEC filing.

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

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 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 transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale 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 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 completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $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 have sold a total of 37,150 shares of company stock worth $20,651,865 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.5 %

Shares of TMO stock opened at $529.63 on Monday. The stock has a 50-day moving average of $566.33 and a 200-day moving average of $577.69. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market cap of $202.58 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.50 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $487.06 and a 1-year high of $627.88.

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

Thermo Fisher Scientific declared that its board 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 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 shares are 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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein reduced their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays reduced their price objective 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. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific presently 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.