Thermo Fisher Scientific Inc. (TMO) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 61.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,110 shares of the medical research company’s stock after buying an additional 6,514 shares during the period. Private Advisor Group LLC’s holdings in Thermo Fisher Scientific were worth $4,176,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Boston Common Asset Management LLC increased its stake in Thermo Fisher Scientific by 9.1% during the 3rd quarter. Boston Common Asset Management LLC now owns 7,623 shares of the medical research company’s stock worth $1,861,000 after acquiring an additional 635 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Thermo Fisher Scientific by 5.6% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 56,896 shares of the medical research company’s stock valued at $13,886,000 after purchasing an additional 3,032 shares in the last quarter. Morse Asset Management Inc boosted its holdings in shares of Thermo Fisher Scientific by 165.1% in the 3rd quarter. Morse Asset Management Inc now owns 12,574 shares of the medical research company’s stock valued at $3,069,000 after purchasing an additional 7,830 shares in the last quarter. Boston Family Office LLC boosted its holdings in shares of Thermo Fisher Scientific by 11.2% in the 3rd quarter. Boston Family Office LLC now owns 28,094 shares of the medical research company’s stock valued at $6,857,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Thermo Fisher Scientific by 10.4% in the 3rd quarter. Synovus Financial Corp now owns 13,356 shares of the medical research company’s stock valued at $3,255,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.

NYSE TMO opened at $245.53 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95. The firm has a market cap of $95.91 billion, a P/E ratio of 25.87, a PEG ratio of 1.73 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $2.31 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock buyback plan on Friday, September 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

In related news, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.49% of the company’s stock.

A number of brokerages have weighed in on TMO. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $247.00 target price on the stock in a report on Friday, October 26th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Robert W. Baird raised their target price on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Cleveland Research downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Finally, Citigroup raised their target price on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $261.45.

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Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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