Thermo Fisher Scientific Inc. $TMO Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,425 shares of the medical research company’s stock after acquiring an additional 1,500 shares during the quarter. Bleakley Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $7,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in Thermo Fisher Scientific by 55.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,247 shares of the medical research company’s stock valued at $9,820,000 after purchasing an additional 7,261 shares in the last quarter. Ellerson Group Inc. ADV lifted its stake in Thermo Fisher Scientific by 1.1% in the third quarter. Ellerson Group Inc. ADV now owns 6,565 shares of the medical research company’s stock worth $3,184,000 after acquiring an additional 71 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its position in shares of Thermo Fisher Scientific by 1.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 118,362 shares of the medical research company’s stock valued at $57,408,000 after purchasing an additional 1,652 shares during the last quarter. Intrust Bank NA lifted its position in shares of Thermo Fisher Scientific by 4.0% during the 3rd quarter. Intrust Bank NA now owns 5,423 shares of the medical research company’s stock worth $2,630,000 after purchasing an additional 207 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. grew its stake in shares of Thermo Fisher Scientific by 28.7% during the third quarter. Bowen Hanes & Co. Inc. now owns 104,050 shares of the medical research company’s stock worth $50,466,000 after purchasing an additional 23,220 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. UBS Group reaffirmed a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction that occurred on 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 owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the sale, the chief operating officer directly owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 108,996 shares of company stock valued at $63,355,935. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.8%

TMO stock opened at $510.96 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. 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 market cap of $191.97 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a fifty day moving average price of $579.25 and a 200 day moving average price of $545.98.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating 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 business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the prior year, the company earned $6.10 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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.