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

Bank of New York Mellon Corp lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 54.7% in the third quarter, Holdings Channel.com reports. 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’s holdings in Thermo Fisher Scientific were worth $1,732,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ballentine Partners LLC increased its position in Thermo Fisher Scientific by 12.5% during the 3rd quarter. Ballentine Partners LLC now owns 7,526 shares of the medical research company’s stock worth $3,650,000 after purchasing an additional 836 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Thermo Fisher Scientific by 1.0% during the third quarter. Federated Hermes Inc. now owns 63,689 shares of the medical research company’s stock worth $30,890,000 after buying an additional 643 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 73.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,566 shares of the medical research company’s stock valued at $2,214,000 after acquiring an additional 1,936 shares during the last quarter. Novare Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 25,275 shares of the medical research company’s stock valued at $12,259,000 after acquiring an additional 779 shares in the last quarter. Finally, Bluesphere Advisors LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter worth about $227,000. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This trade represents a 32.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Lisa P. Britt sold 10,225 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the transaction, the vice president directly owned 14,145 shares in the company, valued at approximately $8,085,564.90. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 124,517 shares of company stock valued at $72,363,568 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $624.77 on Wednesday. The business has a 50-day moving average price of $593.04 and a two-hundred day moving average price of $535.10. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a market cap of $234.73 billion, a P/E ratio of 36.09, a PEG ratio of 4.12 and a beta of 0.91.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Wall Street Analysts Forecast Growth

TMO has been the topic of several research reports. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Wells Fargo & Company lifted their price target on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Leerink Partners increased their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, UBS Group lifted their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Company 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.