Eagle Rock Investment Company LLC Has $3.88 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Eagle Rock Investment Company LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 7,463 shares of the medical research company’s stock after purchasing an additional 19 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Thermo Fisher Scientific were worth $3,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. WINTON GROUP Ltd acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $332,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Thermo Fisher Scientific by 37.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 35,467 shares of the medical research company’s stock worth $19,522,000 after buying an additional 9,656 shares in the last quarter. Seven Eight Capital LP lifted its stake in shares of Thermo Fisher Scientific by 29.4% in the 2nd quarter. Seven Eight Capital LP now owns 2,586 shares of the medical research company’s stock valued at $1,430,000 after acquiring an additional 588 shares during the last quarter. Paces Ferry Wealth Advisors LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter worth $213,000. Finally, Foresight Group Ltd Liability Partnership bought a new position in Thermo Fisher Scientific in the second quarter valued at about $259,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TMO has been the subject of several recent research reports. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stephens assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Scotiabank assumed coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Trading Up 1.8 %

TMO opened at $561.51 on Friday. The company has a market cap of $214.78 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. The company has a fifty day moving average price of $529.69 and a two-hundred day moving average price of $568.01. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business earned $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific declared that its board has initiated a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.