Thermo Fisher Scientific Inc. $TMO is Broyhill Asset Management LLC’s 10th Largest Position

Broyhill Asset Management LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 530.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,024 shares of the medical research company’s stock after buying an additional 5,909 shares during the quarter. Thermo Fisher Scientific accounts for approximately 3.0% of Broyhill Asset Management LLC’s holdings, making the stock its 10th largest holding. Broyhill Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $3,407,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after purchasing an additional 309,207 shares during the period. Capital World Investors boosted its position in Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock valued at $4,988,132,000 after buying an additional 706,572 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Thermo Fisher Scientific by 21.0% during the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after acquiring an additional 1,028,125 shares in the last quarter. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $2,264,615,000. Finally, Bank of New York Mellon Corp grew its stake in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Evercore reissued an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Barclays increased their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Trading Down 2.5%

Shares of NYSE TMO opened at $463.99 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The company has a market cap of $172.36 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock’s 50 day simple moving average is $557.83 and its 200 day simple moving average is $548.17.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the previous year, the company posted $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a $0.47 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific Profile

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.