Alliancebernstein L.P. Has $1.23 Billion Stock Position in Thermo Fisher Scientific Inc. $TMO

Alliancebernstein L.P. boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,541,741 shares of the medical research company’s stock after purchasing an additional 369,975 shares during the period. Alliancebernstein L.P. owned 0.68% of Thermo Fisher Scientific worth $1,232,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TMO. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in Thermo Fisher Scientific by 0.7% during the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 2,960 shares of the medical research company’s stock worth $1,436,000 after acquiring an additional 20 shares during the period. Perissos Private Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $213,000. Creative Planning boosted its position in Thermo Fisher Scientific by 9.9% in the third quarter. Creative Planning now owns 122,796 shares of the medical research company’s stock valued at $59,558,000 after buying an additional 11,027 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 43.2% during the third quarter. AQR Capital Management LLC now owns 155,608 shares of the medical research company’s stock worth $72,433,000 after purchasing an additional 46,918 shares during the last quarter. Finally, NCM Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $208,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

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 firm has a market capitalization of $172.36 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.68 and a beta of 0.96. The stock’s 50 day moving average price is $557.83 and its two-hundred day moving average price is $548.59. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

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

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is 9.70%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TMO shares. TD Cowen lowered their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. UBS Group restated a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $633.68.

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.