Boys Arnold & Co. Inc. Sells 1,671 Shares of Thermo Fisher Scientific Inc. (TMO)

Boys Arnold & Co. Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,648 shares of the medical research company’s stock after selling 1,671 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Thermo Fisher Scientific by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,670,961 shares of the medical research company’s stock valued at $553,246,000 after buying an additional 82,255 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Thermo Fisher Scientific by 1.7% during the second quarter. Janus Henderson Group PLC now owns 2,036,659 shares of the medical research company’s stock worth $421,880,000 after purchasing an additional 34,401 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 3.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,566,563 shares of the medical research company’s stock worth $324,498,000 after purchasing an additional 46,519 shares during the last quarter. Findlay Park Partners LLP lifted its position in shares of Thermo Fisher Scientific by 8.9% during the second quarter. Findlay Park Partners LLP now owns 1,525,000 shares of the medical research company’s stock worth $315,889,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Investec Asset Management LTD lifted its position in shares of Thermo Fisher Scientific by 5.5% during the second quarter. Investec Asset Management LTD now owns 1,463,481 shares of the medical research company’s stock worth $303,145,000 after purchasing an additional 75,675 shares during the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.

Shares of TMO stock opened at $234.21 on Monday. 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 one year low of $181.51 and a one year high of $249.95. The stock has a market cap of $94.34 billion, a PE ratio of 24.68, a P/E/G ratio of 1.70 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $2.31 earnings per share. Thermo Fisher Scientific’s revenue was up 15.7% on a year-over-year basis. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Friday, September 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

TMO has been the topic of several research analyst reports. Zacks Investment Research raised shares of 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. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They set a “buy” rating and a $295.00 price target on the stock. Citigroup increased their price target on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Finally, Goldman Sachs Group cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $261.45.

Thermo Fisher Scientific 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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