Mission Wealth Management LP acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,732 shares of the medical research company’s stock, valued at approximately $423,000.
A number of other large investors have also recently bought and sold shares of TMO. IFM Investors Pty Ltd lifted its holdings in Thermo Fisher Scientific by 45.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 18,120 shares of the medical research company’s stock worth $3,753,000 after buying an additional 5,691 shares in the last quarter. YHB Investment Advisors Inc. lifted its stake in shares of Thermo Fisher Scientific by 0.4% in the 2nd quarter. YHB Investment Advisors Inc. now owns 99,493 shares of the medical research company’s stock valued at $20,609,000 after purchasing an additional 389 shares during the period. Marshwinds Advisory Co. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $311,000. Polaris Greystone Financial Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $23,960,000. Finally, Caledonia Investments PLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $34,989,000. 85.22% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Marc N. Casper sold 125,520 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is owned by company insiders.
Shares of NYSE TMO opened at $236.52 on Tuesday. The stock has a market capitalization of $94.34 billion, a PE ratio of 24.92, a P/E/G 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 fifty-two week low of $181.51 and a fifty-two week high of $249.95.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. Thermo Fisher Scientific’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.
Thermo Fisher Scientific declared that its board has approved a share repurchase program on Friday, September 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 price target on the stock in a research note on Monday, August 6th. Leerink Swann increased their price target on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. ValuEngine raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. UBS Group assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target on the stock. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $300.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus price target of $261.45.
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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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