CenterBook Partners LP Raises Stock Position in Thermo Fisher Scientific Inc. $TMO

CenterBook Partners LP grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 311.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,791 shares of the medical research company’s stock after buying an additional 2,870 shares during the period. CenterBook Partners LP’s holdings in Thermo Fisher Scientific were worth $1,839,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its stake 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 valued at $29,000 after purchasing an additional 33 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $31,000. Capital A Wealth Management LLC boosted its stake 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 worth $30,000 after buying an additional 66 shares during the period. Elevation Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 transaction, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 108,996 shares of company stock worth $63,355,935 over the last three months. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TMO. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Argus increased their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. TD Cowen cut their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Barclays raised their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research 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 report on Monday, January 5th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $514.99 on Friday. The stock’s 50-day simple moving average is $580.48 and its 200-day simple moving average is $545.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm has a market capitalization of $193.49 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate 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 company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the firm posted $6.10 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

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.