Financial Counselors Inc. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,244 shares of the medical research company’s stock after selling 1,044 shares during the period. Financial Counselors Inc.’s holdings in Thermo Fisher Scientific were worth $14,460,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $103,000. Horrell Capital Management Inc. bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth $104,000. Edge Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 8,077.8% in the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after purchasing an additional 727 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth $154,000. Finally, First Command Bank bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth $182,000. Institutional investors and hedge funds own 85.64% of the company’s stock.
Shares of Thermo Fisher Scientific stock opened at $234.21 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95. The firm has a market capitalization of $93.72 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. Thermo Fisher Scientific’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, sell-side analysts predict 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 approved a share buyback plan on Friday, September 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy 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 stock is undervalued.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 price objective on the stock in a research note on Monday, August 6th. Leerink Swann boosted their price objective on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. UBS Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $300.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $261.45.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the sale, the chief executive officer now owns 320,122 shares of the company’s stock, valued at $74,892,541.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.
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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