MAI Capital Management Increases Stock Position in Thermo Fisher Scientific Inc. $TMO

MAI Capital Management boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.2% in the 3rd quarter, Holdings Channel reports. The firm owned 51,025 shares of the medical research company’s stock after purchasing an additional 7,868 shares during the period. MAI Capital Management’s holdings in Thermo Fisher Scientific were worth $24,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TMO. TIAA Trust National Association boosted its holdings in shares of Thermo Fisher Scientific by 10.5% in the second quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after acquiring an additional 11,817 shares in the last quarter. Lombard Odier Asset Management Switzerland SA lifted its position in Thermo Fisher Scientific by 8.4% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth approximately $41,393,000. Weaver Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $506,000. Finally, VELA Investment Management LLC grew its holdings in Thermo Fisher Scientific by 65.5% during the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after acquiring an additional 3,683 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TMO has been the subject of a number of research analyst reports. TD Cowen cut their price target on shares of 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 cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Robert W. Baird set a $653.00 price target on Thermo Fisher Scientific in a research note on Friday, January 30th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. Finally, Morgan Stanley upped their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 98,271 shares of company stock worth $56,920,935 over the last quarter. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $515.79 on Wednesday. The stock has a market cap of $193.79 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 2.98 and a beta of 0.93. The business has a fifty day moving average of $576.98 and a 200-day moving average of $547.48. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company 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 firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.10 EPS. As a group, 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 stock buyback 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.