Thermo Fisher Scientific Inc. $TMO Stock Holdings Trimmed by New South Capital Management Inc.

New South Capital Management Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,290 shares of the medical research company’s stock after selling 2,413 shares during the period. Thermo Fisher Scientific makes up about 3.3% of New South Capital Management Inc.’s holdings, making the stock its 9th largest holding. New South Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $71,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Financial Management Network Inc. raised its position in Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 18 shares during the period. Bruce G. Allen Investments LLC lifted its stake in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Hopwood Financial Services Inc. grew its stake in shares of Thermo Fisher Scientific by 9.1% in the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after acquiring an additional 20 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in Thermo Fisher Scientific by 0.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,426 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $509.93 on Friday. The company has a 50-day simple moving average of $586.80 and a 200-day simple moving average of $543.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a market cap of $191.59 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.

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 the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the previous year, the company posted $6.10 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TMO. Evercore reaffirmed an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Leerink Partners upped their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Argus boosted their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Morgan Stanley boosted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. One equities research 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’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling

In related news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This represents a 20.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,996 shares of company stock valued at $63,355,935. 0.33% of the stock is owned by corporate insiders.

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.