Caprock Group LLC Purchases Shares of 8,500 Thermo Fisher Scientific Inc. $TMO

Caprock Group LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,500 shares of the medical research company’s stock, valued at approximately $4,188,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after acquiring an additional 309,207 shares during the last quarter. Norges Bank bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $2,264,615,000. Franklin Resources Inc. boosted its position 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 acquiring an additional 498,238 shares during the period. Bank of New York Mellon Corp increased its position in Thermo Fisher Scientific by 54.7% during the third 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 acquiring an additional 1,262,967 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after purchasing an additional 74,971 shares during the period. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research 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. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, Argus boosted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One equities research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Trading Down 2.5%

Shares of Thermo Fisher Scientific stock opened at $526.56 on Thursday. The firm has a market capitalization of $197.83 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.11 and a beta of 0.93. 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 firm’s 50 day moving average is $588.09 and its 200 day moving average is $544.22. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the firm posted $6.10 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities 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 approved a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the transaction, the chief operating officer directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 108,996 shares of company stock valued at $63,355,935 over the last three months. Company insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.