Bowen Hanes & Co. Inc. Raises Stock Position in Thermo Fisher Scientific Inc. $TMO

Bowen Hanes & Co. Inc. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,050 shares of the medical research company’s stock after buying an additional 23,220 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $50,466,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Princeton Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $437,000. Advyzon Investment Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $263,000. White Pine Capital LLC grew its stake in Thermo Fisher Scientific by 3.2% during the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock worth $296,000 after buying an additional 19 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $48,000. Finally, Barings LLC acquired a new stake in Thermo Fisher Scientific in the third quarter worth about $202,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price on the stock. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, Argus boosted their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares in the company, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,996 shares of company stock valued at $63,355,935 over the last three months. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $510.96 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The firm has a market cap of $191.97 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The business’s fifty day simple moving average is $579.25 and its 200-day simple moving average is $545.98. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the business posted $6.10 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.