Shell Asset Management Co. Has $742,000 Stock Position in Thermo Fisher Scientific Inc. $TMO

Shell Asset Management Co. lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 93.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,530 shares of the medical research company’s stock after selling 20,942 shares during the quarter. Shell Asset Management Co.’s holdings in Thermo Fisher Scientific were worth $742,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of Thermo Fisher Scientific by 1.5% during the third quarter. HighTower Advisors LLC now owns 146,255 shares of the medical research company’s stock worth $70,938,000 after buying an additional 2,143 shares during the period. Shepherd Financial Partners LLC bought a new stake in Thermo Fisher Scientific during the third quarter valued at $220,000. Berkshire Asset Management LLC PA acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $209,000. GF Fund Management CO. LTD. raised its position in shares of Thermo Fisher Scientific by 9.7% in the 3rd quarter. GF Fund Management CO. LTD. now owns 10,317 shares of the medical research company’s stock worth $5,004,000 after acquiring an additional 911 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 8.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 1,693 shares of the medical research company’s stock valued at $821,000 after purchasing an additional 133 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $504.99 on Tuesday. The company 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 company has a fifty day simple moving average of $584.19 and a 200 day simple moving average of $545.29. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share 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 analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $6.10 earnings per share. Sell-side 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 has authorized a share repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s 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 completion of the transaction, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. This 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 108,996 shares of company stock worth $63,355,935 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TMO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. TD Cowen reduced their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Argus boosted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research 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. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a research note on Sunday, December 7th. One investment 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’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently 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.