MetLife Investment Management LLC Has $56.25 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

MetLife Investment Management LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,811 shares of the medical research company’s stock after purchasing an additional 4,704 shares during the period. MetLife Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $56,250,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in shares of Thermo Fisher Scientific by 1,963.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,204,394 shares of the medical research company’s stock worth $53,628,000 after purchasing an additional 2,097,565 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Thermo Fisher Scientific by 10.8% during the 2nd quarter. Bessemer Group Inc. now owns 858,701 shares of the medical research company’s stock worth $448,029,000 after buying an additional 83,671 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.4% during the 2nd quarter. ProShare Advisors LLC now owns 63,053 shares of the medical research company’s stock worth $32,898,000 after buying an additional 273 shares during the period. Profund Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.8% during the 2nd quarter. Profund Advisors LLC now owns 6,147 shares of the medical research company’s stock worth $3,207,000 after buying an additional 47 shares during the period. Finally, Providence Capital Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 10,222 shares of the medical research company’s stock worth $5,333,000 after buying an additional 86 shares during the period. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the transaction, the executive vice president now directly owns 17,556 shares in the company, valued at approximately $9,792,210.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the transaction, the executive vice president now directly owns 17,556 shares in the company, valued at approximately $9,792,210.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $454.41, for a total transaction of $4,544,100.00. Following the completion of the transaction, the chief executive officer now owns 131,175 shares of the company’s stock, valued at $59,607,231.75. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $10,778,910 in the last three months. 0.32% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded up $2.21 on Monday, reaching $468.63. 299,697 shares of the stock were exchanged, compared to its average volume of 1,563,170. The firm’s 50 day moving average is $479.00 and its 200-day moving average is $514.14. The firm has a market cap of $181.06 billion, a PE ratio of 30.56, a P/E/G ratio of 2.87 and a beta of 0.81. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $609.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $5.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.61 by $0.08. The business had revenue of $10.57 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.08 EPS. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock buyback program on Tuesday, November 14th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is 9.17%.

Analyst Upgrades and Downgrades

TMO has been the subject of several research analyst reports. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $657.00 to $579.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Raymond James cut their price objective on shares of Thermo Fisher Scientific from $580.00 to $515.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. TheStreet downgraded shares of Thermo Fisher Scientific from a “b-” rating to a “c+” rating in a report on Monday, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Thermo Fisher Scientific from $670.00 to $630.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $593.94.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.