Perpetual Ltd lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 90.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,100 shares of the medical research company’s stock after selling 19,200 shares during the period. Perpetual Ltd’s holdings in Thermo Fisher Scientific were worth $513,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Inverness Counsel LLC NY purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $13,225,000. S. R. Schill & Associates purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $347,000. Nissay Asset Management Corp Japan ADV increased its position in shares of Thermo Fisher Scientific by 2.8% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 57,779 shares of the medical research company’s stock valued at $14,103,000 after purchasing an additional 1,573 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Thermo Fisher Scientific by 7.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,287 shares of the medical research company’s stock valued at $1,290,000 after purchasing an additional 355 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Thermo Fisher Scientific by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 125,521 shares of the medical research company’s stock valued at $30,637,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 85.64% of the company’s stock.
TMO has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $230.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, Leerink Swann increased their price objective on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $261.45.
In other news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $233.95, for a total value of $11,697,500.00. Following the transaction, the chief executive officer now owns 320,122 shares of the company’s stock, valued at $74,892,541.90. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
Shares of TMO opened at $233.66 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $249.95. The company has a market cap of $93.72 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.69 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.07. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $2.31 EPS. The company’s revenue was up 15.7% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, September 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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