Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lifted by Veritas Investment Partners UK Ltd.

Veritas Investment Partners UK Ltd. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 409,518 shares of the medical research company’s stock after buying an additional 358 shares during the quarter. Thermo Fisher Scientific accounts for approximately 5.6% of Veritas Investment Partners UK Ltd.’s portfolio, making the stock its 4th biggest position. Veritas Investment Partners UK Ltd. owned approximately 0.11% of Thermo Fisher Scientific worth $207,365,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Herold Advisors Inc. increased its position in Thermo Fisher Scientific by 23.1% during the third quarter. Herold Advisors Inc. now owns 1,489 shares of the medical research company’s stock worth $754,000 after buying an additional 279 shares during the period. Choreo LLC increased its position in Thermo Fisher Scientific by 11.0% during the third quarter. Choreo LLC now owns 1,599 shares of the medical research company’s stock worth $810,000 after buying an additional 158 shares during the period. Wade G W & Inc. increased its position in Thermo Fisher Scientific by 1.9% during the third quarter. Wade G W & Inc. now owns 4,000 shares of the medical research company’s stock worth $2,025,000 after buying an additional 75 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Thermo Fisher Scientific during the third quarter worth approximately $415,000. Finally, Pathstone Family Office LLC increased its position in Thermo Fisher Scientific by 112.1% during the third quarter. Pathstone Family Office LLC now owns 24,349 shares of the medical research company’s stock worth $12,349,000 after buying an additional 12,871 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMO. JPMorgan Chase & Co. dropped their target price on Thermo Fisher Scientific from $670.00 to $630.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Wells Fargo & Company raised Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 target price on the stock in a report on Wednesday, October 25th. Citigroup boosted their target price on Thermo Fisher Scientific from $530.00 to $575.00 and gave the company a “buy” rating in a report on Monday, December 11th. Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Finally, HSBC began coverage on Thermo Fisher Scientific in a report on Monday, December 18th. They set a “buy” rating and a $610.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $596.00.

View Our Latest Report on Thermo Fisher Scientific

Thermo Fisher Scientific Trading Down 0.3 %

NYSE:TMO traded down $1.41 on Thursday, hitting $550.90. 1,549,265 shares of the stock were exchanged, compared to its average volume of 2,007,462. The stock has a market cap of $212.85 billion, a PE ratio of 35.66, a PEG ratio of 2.35 and a beta of 0.80. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average of $531.13 and a 200-day moving average of $514.27. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $593.17.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The firm had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $10.73 billion. During the same quarter in the prior year, the business posted $5.40 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.57 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the sale, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the transaction, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Thermo Fisher Scientific Company Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Further Reading

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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