Waters Parkerson & CO. LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 0.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 168,750 shares of the medical research company’s stock after acquiring an additional 302 shares during the quarter. Thermo Fisher Scientific accounts for 5.1% of Waters Parkerson & CO. LLC’s portfolio, making the stock its largest position. Waters Parkerson & CO. LLC’s holdings in Thermo Fisher Scientific were worth $85,416,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. DMC Group LLC raised its stake in Thermo Fisher Scientific by 16.5% during the 3rd quarter. DMC Group LLC now owns 592 shares of the medical research company’s stock worth $300,000 after acquiring an additional 84 shares during the period. Montchanin Asset Management LLC raised its holdings in Thermo Fisher Scientific by 1.1% during the second quarter. Montchanin Asset Management LLC now owns 4,550 shares of the medical research company’s stock valued at $2,374,000 after acquiring an additional 50 shares during the period. Check Capital Management Inc. CA bought a new position in Thermo Fisher Scientific in the 3rd quarter worth approximately $219,000. Tower Bridge Advisors lifted its holdings in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Tower Bridge Advisors now owns 33,046 shares of the medical research company’s stock worth $16,727,000 after buying an additional 155 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Thermo Fisher Scientific by 7,323.0% during the second quarter. Orion Portfolio Solutions LLC now owns 56,860 shares of the medical research company’s stock valued at $29,667,000 after acquiring an additional 56,094 shares in the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Stock Performance
TMO stock opened at $546.65 on Monday. The firm has a market cap of $211.21 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.31 and a beta of 0.80. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $593.17. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $533.33 and its two-hundred day simple moving average is $513.55.
Thermo Fisher Scientific announced that its board has approved a share repurchase plan on Tuesday, November 14th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Raymond James raised their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Barclays downgraded Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $475.00 to $555.00 in a research report on Wednesday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $630.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Wells Fargo & Company raised shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 price objective for the company in a research note on Wednesday, October 25th. Finally, KeyCorp cut shares of Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $596.00.
Insider Buying and Selling at Thermo Fisher Scientific
In other news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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