Lowe Brockenbrough & Co. Inc. Grows Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,870 shares of the medical research company’s stock after purchasing an additional 1,783 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $15,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TIAA Trust National Association increased its holdings in Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after purchasing an additional 11,817 shares in the last quarter. Lombard Odier Asset Management Switzerland SA boosted its position in shares of Thermo Fisher Scientific by 8.4% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after buying an additional 1,128 shares during the period. Weaver Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $506,000. Heritage Investors Management Corp lifted its position in Thermo Fisher Scientific by 9.6% during the 2nd quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after acquiring an additional 4,971 shares in the last quarter. Finally, VELA Investment Management LLC boosted its holdings in Thermo Fisher Scientific by 65.5% in the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after acquiring an additional 3,683 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research report on Sunday, December 7th. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research report on Friday, January 30th. Argus increased their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Leerink Partners lifted their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This trade represents a 32.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 114,292 shares of company stock valued at $66,518,754. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.2%

Shares of NYSE TMO opened at $543.46 on Friday. 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 stock’s 50 day moving average price is $590.76 and its two-hundred day moving average price is $542.88. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The stock 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.

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

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy 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 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.