499,940 Shares in Thermo Fisher Scientific Inc. $TMO Acquired by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 499,940 shares of the medical research company’s stock, valued at approximately $242,481,000.

A number of other large investors have also recently bought and sold shares of TMO. Norges Bank acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth $2,264,615,000. Soundwatch Capital LLC bought a new position in Thermo Fisher Scientific in the second quarter valued at approximately $807,713,000. Flossbach Von Storch SE grew its holdings 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 282.5% in 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 during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the completion of the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. The trade was a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,292 shares of company stock worth $66,518,754 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $543.46 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The firm has a market capitalization of $204.18 billion, a P/E ratio of 30.63, a PEG ratio of 3.13 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $590.76 and a 200 day moving average price of $542.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.10 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TMO has been the subject of a number of research analyst reports. 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. Barclays increased their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Leerink Partners upped their price target on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

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.