Assetmark Inc. Has $14.86 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Assetmark Inc. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,631 shares of the medical research company’s stock after acquiring an additional 7,400 shares during the quarter. Assetmark Inc.’s holdings in Thermo Fisher Scientific were worth $14,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $2,264,615,000. Soundwatch Capital LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at approximately $807,713,000. Flossbach Von Storch SE increased its stake in Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after buying an additional 1,314,182 shares during the period. Bank of New York Mellon Corp lifted its position in Thermo Fisher Scientific by 54.7% in 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 in the last quarter. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 282.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after acquiring an additional 977,127 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TMO shares. Leerink Partners increased their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. TD Cowen lowered their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Evercore reiterated an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Stock Down 0.9%

TMO stock opened at $504.99 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The company has a 50-day moving average of $585.45 and a two-hundred day moving average of $545.03. The stock has a market capitalization of $189.73 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93. 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 posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.10 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,996 shares of company stock valued at $63,355,935 over the last ninety days. 0.33% of the stock is owned by insiders.

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.