US Bancorp DE lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 228,494 shares of the medical research company’s stock after selling 4,428 shares during the period. US Bancorp DE’s holdings in Thermo Fisher Scientific were worth $55,771,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $95,849,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $70,775,000. Gofen & Glossberg LLC IL purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $67,593,000. Voya Investment Management LLC increased its position in Thermo Fisher Scientific by 30.4% in the second quarter. Voya Investment Management LLC now owns 1,153,572 shares of the medical research company’s stock worth $238,951,000 after buying an additional 268,708 shares in the last quarter. Finally, Natixis increased its position in Thermo Fisher Scientific by 327.8% in the second quarter. Natixis now owns 346,757 shares of the medical research company’s stock worth $71,827,000 after buying an additional 265,699 shares in the last quarter. Institutional investors own 85.22% of the company’s stock.
A number of brokerages have commented on TMO. Robert W. Baird upped their price target on Thermo Fisher Scientific from $256.00 to $264.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. Morgan Stanley upped their price target on Thermo Fisher Scientific from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 25th. Zacks Investment Research cut Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Leerink Swann upped their price target on Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Finally, ValuEngine upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $261.45.
NYSE TMO opened at $234.21 on Monday. The stock has a market capitalization of $94.34 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.07. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current fiscal year.
Thermo Fisher Scientific declared that its board has authorized a share repurchase program on Friday, September 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Marc N. Casper sold 125,520 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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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