Skylands Capital LLC Reduces Position in Thermo Fisher Scientific Inc. $TMO

Skylands Capital LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 38.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,050 shares of the medical research company’s stock after selling 1,300 shares during the period. Skylands Capital LLC’s holdings in Thermo Fisher Scientific were worth $994,000 as of its most recent SEC filing.

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

Thermo Fisher Scientific Stock Performance

TMO opened at $539.45 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a market capitalization of $202.68 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.15 and a beta of 0.93. The company has a fifty day moving average of $589.18 and a 200 day moving average of $544.35. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. The business 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%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.10 EPS. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. The trade was a 32.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of the company’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 value of $18,668,480.00. Following the sale, the chief operating officer directly owned 65,480 shares in the company, valued at $38,200,377.20. This trade represents a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 113,234 shares of company stock valued at $65,896,375. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TMO. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Barclays boosted their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, TD Cowen lowered their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. 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. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average 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.