Vanguard Group Inc. Raises Holdings in Thermo Fisher Scientific Inc. $TMO

Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the third quarter, HoldingsChannel.com reports. The fund owned 33,845,406 shares of the medical research company’s stock after purchasing an additional 56,242 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Thermo Fisher Scientific worth $16,415,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TMO. Highline Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the third quarter worth $31,000. Capital A Wealth Management LLC lifted its holdings in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares during the period. Finally, Howard Hughes Medical Institute acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other news, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 108,996 shares of company stock valued at $63,355,935. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $504.99 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The firm has a market cap of $189.73 billion, a P/E ratio of 28.47, a PEG ratio of 2.91 and a beta of 0.93. The firm’s 50 day moving average price is $585.45 and its two-hundred day moving average price is $545.03.

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

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research report on Sunday, December 7th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. TD Cowen reduced their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Wall Street Zen lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, UBS Group restated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

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.