Chesley Taft & Associates LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 55,736 shares of the medical research company’s stock after buying an additional 305 shares during the period. Chesley Taft & Associates LLC’s holdings in Thermo Fisher Scientific were worth $13,604,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in TMO. FNY Investment Advisers LLC acquired a new stake in Thermo Fisher Scientific during the second quarter worth $103,000. Horrell Capital Management Inc. acquired a new stake in Thermo Fisher Scientific during the second quarter worth $104,000. Edge Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 8,077.8% during the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after buying an additional 727 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Thermo Fisher Scientific during the second quarter worth $154,000. Finally, Private Capital Group LLC boosted its stake in Thermo Fisher Scientific by 57.3% during the first quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock worth $179,000 after buying an additional 315 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
In other news, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $233.95, for a total value of $11,697,500.00. Following the sale, the chief executive officer now owns 320,122 shares in the company, valued at approximately $74,892,541.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick M. Durbin sold 20,550 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total transaction of $4,806,028.50. The disclosure for this sale can be found here. Insiders sold a total of 196,070 shares of company stock worth $47,569,729 in the last 90 days. 0.49% of the stock is owned by corporate insiders.
Shares of NYSE:TMO opened at $231.41 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $181.51 and a 52 week high of $249.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58. The firm has a market capitalization of $98.31 billion, a PE ratio of 24.38, a PEG ratio of 1.78 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the previous year, the company earned $2.30 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current year.
Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
TMO has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, September 24th. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a research note on Monday, October 1st. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday. They set a “buy” rating and a $295.00 price target on the stock. Finally, ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Thermo Fisher Scientific currently has an average rating of “Buy” and an average target price of $259.91.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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