IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Thermo Fisher Scientific Inc. $TMO

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,110 shares of the medical research company’s stock after selling 1,630 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Thermo Fisher Scientific were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Highline Wealth Partners LLC grew its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the period. Capital A Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the period. Cloud Capital Management LLC acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Finally, Harbor Asset Planning Inc. purchased a new stake in Thermo Fisher Scientific during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.2%

TMO stock opened at $543.46 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $590.76 and a 200-day simple moving average of $542.88. The company has a market capitalization of $204.18 billion, a P/E ratio of 30.63, a PEG ratio of 3.13 and a beta of 0.93. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month 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, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.10 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the sale, the vice president owned 13,087 shares in the company, valued at $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,292 shares of company stock valued at $66,518,754 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Leerink Partners upped their price target on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. TD Cowen lowered their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Evercore reissued an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

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.