Northeast Investment Management Sells 1,572 Shares of Thermo Fisher Scientific Inc. $TMO

Northeast Investment Management lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 83,414 shares of the medical research company’s stock after selling 1,572 shares during the period. Thermo Fisher Scientific accounts for about 1.6% of Northeast Investment Management’s investment portfolio, making the stock its 17th biggest holding. Northeast Investment Management’s holdings in Thermo Fisher Scientific were worth $40,457,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after acquiring an additional 309,207 shares during the period. Norges Bank bought a new stake in Thermo Fisher Scientific in the second quarter worth $2,264,615,000. Franklin Resources Inc. grew its position in Thermo Fisher Scientific by 11.3% in the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock worth $1,985,759,000 after acquiring an additional 498,238 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after acquiring an additional 1,262,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction dated 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 approximately $11,238,600. This trade represents a 36.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. This trade represents a 32.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 108,996 shares of company stock worth $63,355,935. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of 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 target price 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. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Stifel Nicolaus increased their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 9th. One equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $500.79 on Wednesday. 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’s fifty day moving average price is $582.95 and its 200-day moving average price is $545.56. The firm has a market cap of $188.15 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.91 and a beta of 0.93. 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 issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the prior year, the business earned $6.10 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect 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 authorized a stock buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific 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.