Bank of New York Mellon Corp Has $1.73 Billion Position in Thermo Fisher Scientific Inc. $TMO

Bank of New York Mellon Corp raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 54.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,571,857 shares of the medical research company’s stock after acquiring an additional 1,262,967 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Thermo Fisher Scientific worth $1,732,422,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Capital A Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Thermo Fisher Scientific by 406.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares in the last quarter. HighMark Wealth Management LLC grew its stake in Thermo Fisher Scientific by 140.6% in the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 45 shares in the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 124,517 shares of company stock valued at $72,363,568. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TMO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. UBS Group raised their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a research report on Wednesday, October 8th. Finally, Hsbc Global Res upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $625.47.

Thermo Fisher Scientific Trading Down 0.3%

Shares of Thermo Fisher Scientific stock opened at $624.77 on Wednesday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The stock has a market cap of $234.73 billion, a PE ratio of 36.09, a PEG ratio of 4.12 and a beta of 0.91. The firm has a 50-day moving average of $593.04 and a 200-day moving average of $535.10. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.