Dana Investment Advisors Inc. Has $4.59 Million Stake in Thermo Fisher Scientific Inc. $TMO

Dana Investment Advisors Inc. raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,457 shares of the medical research company’s stock after acquiring an additional 1,884 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $4,587,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Thermo Fisher Scientific by 4.8% during the second quarter. Ashton Thomas Private Wealth LLC now owns 10,958 shares of the medical research company’s stock worth $4,448,000 after purchasing an additional 500 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $734,000. Finally, Rossby Financial LCC raised its position in shares of Thermo Fisher Scientific by 6.1% in the second quarter. Rossby Financial LCC now owns 1,714 shares of the medical research company’s stock valued at $695,000 after purchasing an additional 98 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on TMO shares. Barclays upped their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wall Street Zen cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research note on Sunday, December 7th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Evercore reiterated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $515.79 on Wednesday. The firm has a market cap of $193.79 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock’s fifty day moving average price is $576.98 and its two-hundred day moving average price is $547.48. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99.

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

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares in the company, valued at approximately $8,586,868.56. This trade represents a 32.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the 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 completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 98,271 shares of company stock worth $56,920,935. 0.33% of the stock is currently owned by corporate insiders.

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.