Alps Advisors Inc. Reduces Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Alps Advisors Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 60.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,215 shares of the medical research company’s stock after selling 1,852 shares during the period. Alps Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $31,000. Capital A Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Elevation Wealth Partners LLC raised its position in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares during the period. Finally, Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus lifted their price objective 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. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Morgan Stanley boosted their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. 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 stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. The trade was a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This trade represents a 20.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 108,996 shares of company stock worth $63,355,935 in the last three months. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Down 3.3%

Shares of NYSE:TMO opened at $509.93 on Friday. The business’s 50 day moving average price is $586.80 and its 200-day moving average price is $543.99. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The firm has a market capitalization of $191.59 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

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

Thermo Fisher Scientific declared that its board has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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.