Parallel Advisors LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,054 shares of the medical research company’s stock after acquiring an additional 835 shares during the period. Parallel Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,966,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $103,000. Horrell Capital Management Inc. bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $104,000. Edge Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 8,077.8% in the 2nd quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after buying an additional 727 shares during the period. Atlantic Trust LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $154,000. Finally, First Command Bank purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $182,000. 85.22% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $259.00 target price on the stock in a research note on Monday, July 30th. Leerink Swann raised their price objective on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Cleveland Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 25th. Finally, Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $261.45.
In other news, CEO Marc N. Casper sold 125,520 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific stock opened at $234.21 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. The firm 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 Inc. has a fifty-two week low of $181.51 and a fifty-two week high of $249.95.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. The firm 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%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $2.31 EPS. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current year.
Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase 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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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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