ProShare Advisors LLC Has $31.89 Million Stake in Thermo Fisher Scientific Inc. $TMO

ProShare Advisors LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,746 shares of the medical research company’s stock after selling 1,853 shares during the quarter. ProShare Advisors LLC’s holdings in Thermo Fisher Scientific were worth $31,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of 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 worth $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Thermo Fisher Scientific by 19.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,570 shares of the medical research company’s stock valued at $1,853,000 after buying an additional 748 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Thermo Fisher Scientific by 2.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 106,999 shares of the medical research company’s stock worth $45,097,000 after acquiring an additional 2,062 shares in the last quarter. Finally, Cypress Capital Group acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $479,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Argus raised their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $653.00 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 report on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Trading Down 1.3%

NYSE TMO opened at $539.45 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. 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 stock has a 50 day moving average of $589.18 and a 200-day moving average of $544.35. The company has a market cap of $202.68 billion, a PE ratio of 30.41, a PEG ratio of 3.15 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.10 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, November 25th. The stock was 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 of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 113,234 shares of company stock worth $65,896,375 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.