Strs Ohio Sells 36,418 Shares of Thermo Fisher Scientific Inc. (TMO)

Strs Ohio reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 385,813 shares of the medical research company’s stock after selling 36,418 shares during the quarter. Strs Ohio’s holdings in Thermo Fisher Scientific were worth $94,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TMO. Cornerstone Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 4.7% in the third quarter. Cornerstone Wealth Management LLC now owns 69,468 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 3,133 shares during the last quarter. Seven Eight Capital LP grew its position in shares of Thermo Fisher Scientific by 241.8% in the third quarter. Seven Eight Capital LP now owns 64,600 shares of the medical research company’s stock valued at $15,768,000 after purchasing an additional 45,700 shares during the last quarter. Huntington National Bank grew its position in shares of Thermo Fisher Scientific by 5.5% in the third quarter. Huntington National Bank now owns 222,745 shares of the medical research company’s stock valued at $54,368,000 after purchasing an additional 11,570 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $305,000. Finally, Aperio Group LLC grew its position in shares of Thermo Fisher Scientific by 1.0% in the third quarter. Aperio Group LLC now owns 397,207 shares of the medical research company’s stock valued at $96,950,000 after purchasing an additional 4,078 shares during the last quarter. Institutional investors own 86.10% of the company’s stock.

TMO stock traded down $2.71 during trading on Friday, reaching $227.00. 105,967 shares of the stock were exchanged, compared to its average volume of 1,533,684. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95. The company has a market cap of $94.52 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.58 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. Thermo Fisher Scientific had a return on equity of 16.28% and a net margin of 10.36%. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the business earned $2.30 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 10.99 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Several brokerages have recently issued reports on TMO. Cleveland Research downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Thursday. Morgan Stanley raised their price target on Thermo Fisher Scientific from $242.00 to $254.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. Citigroup raised their price target on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. UBS Group began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target on the stock. Finally, Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a research report on Monday, October 1st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $259.91.

In related news, insider Patrick M. Durbin sold 20,550 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $233.87, for a total transaction of $4,806,028.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 125,520 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,070 shares of company stock worth $47,569,729. 0.49% of the stock is owned by company insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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