ABC Arbitrage SA Makes New $1.31 Million Investment in Thermo Fisher Scientific Inc. $TMO

ABC Arbitrage SA acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,701 shares of the medical research company’s stock, valued at approximately $1,310,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Vanguard Group Inc. boosted its stake in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares in the last quarter. Norges Bank purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $2,264,615,000. Franklin Resources Inc. increased its holdings in shares of Thermo Fisher Scientific by 11.3% in the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the period. Bank of New York Mellon Corp raised its position in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after buying an additional 1,262,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TMO. TD Cowen cut their price target on 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. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Morgan Stanley upped their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the transaction, the executive vice president owned 18,731 shares of the company’s stock, valued at $11,238,600. This trade represents a 36.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,234 shares of company stock valued at $65,896,375 in the last three months. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Trading Down 1.3%

Shares of TMO opened at $539.45 on Wednesday. The firm’s fifty day moving average is $589.18 and its two-hundred day moving average is $544.35. The stock has a market cap of $202.68 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.15 and a beta of 0.93. 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 Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 the consensus estimate of $11.95 billion. During the same quarter last year, the business posted $6.10 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Company 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.