MCF Advisors LLC Increases Stock Position in Thermo Fisher Scientific Inc. $TMO

MCF Advisors LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 139.4% during the third quarter, Holdings Channel.com reports. The fund owned 3,081 shares of the medical research company’s stock after acquiring an additional 1,794 shares during the period. MCF Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,495,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $807,713,000. Flossbach Von Storch SE increased its stake in Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares during the period. Bank of New York Mellon Corp lifted its holdings in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after buying an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its position in shares of Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after acquiring an additional 977,127 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 32,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the sale, the chief operating officer owned 65,480 shares in the company, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa P. Britt sold 1,058 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total transaction of $622,379.08. Following the completion of the transaction, the vice president owned 13,087 shares in the company, valued at $7,698,558.62. The trade was a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 114,292 shares of company stock valued at $66,518,754. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $543.46 on Friday. The company has a 50-day moving average of $590.76 and a two-hundred day moving average of $542.88. The stock has a market cap 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 current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm posted $6.10 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TMO. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Citigroup lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Finally, Evercore reiterated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $633.68.

About Thermo Fisher Scientific

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.