Guinness Atkinson Asset Management Inc Grows Holdings in Thermo Fisher Scientific Inc. $TMO

Guinness Atkinson Asset Management Inc boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,428 shares of the medical research company’s stock after acquiring an additional 1,094 shares during the period. Thermo Fisher Scientific accounts for about 2.5% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 22nd largest holding. Guinness Atkinson Asset Management Inc’s holdings in Thermo Fisher Scientific were worth $5,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its position in Thermo Fisher Scientific by 28.9% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Thermo Fisher Scientific by 8.1% during the second quarter. DAVENPORT & Co LLC now owns 5,048 shares of the medical research company’s stock valued at $2,047,000 after acquiring an additional 380 shares in the last quarter. Sax Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 152.6% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,579 shares of the medical research company’s stock worth $640,000 after purchasing an additional 954 shares in the last quarter. Finally, REAP Financial Group LLC grew its position in Thermo Fisher Scientific by 131.1% during the 2nd quarter. REAP Financial Group LLC now owns 104 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TMO. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. UBS Group restated a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific 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 research report on Saturday, January 31st. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. Finally, Citigroup raised their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Activity

In other news, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. This trade represents a 36.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 114,292 shares of company stock worth $66,518,754 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $541.94 on Friday. The stock has a market cap of $203.61 billion, a P/E ratio of 30.55, a P/E/G ratio of 3.26 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock’s fifty day moving average is $591.73 and its 200 day moving average is $541.12. 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 posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $6.10 earnings per share. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

About Thermo Fisher Scientific

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.