Fairbanks Capital Management Inc. Acquires 1,421 Shares of Thermo Fisher Scientific Inc. $TMO

Fairbanks Capital Management Inc. increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,248 shares of the medical research company’s stock after purchasing an additional 1,421 shares during the quarter. Fairbanks Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,575,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $2,264,615,000. Soundwatch Capital LLC purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $807,713,000. Flossbach Von Storch SE lifted its holdings in shares of Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after acquiring an additional 1,314,182 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after acquiring an additional 1,262,967 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after purchasing an additional 977,127 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $516.48 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average price is $578.07 and its 200-day moving average price is $547.09. The stock has a market cap of $194.05 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99.

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

Thermo Fisher Scientific declared that its board has authorized a share repurchase program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2.4% 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 other news, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This represents a 32.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,271 shares of company stock worth $56,920,935 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group reissued a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $633.68.

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.