Impax Asset Management Group plc Sells 20,515 Shares of Thermo Fisher Scientific Inc. $TMO

Impax Asset Management Group plc decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,031 shares of the medical research company’s stock after selling 20,515 shares during the quarter. Impax Asset Management Group plc’s holdings in Thermo Fisher Scientific were worth $72,768,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth $807,713,000. Flossbach Von Storch SE raised its stake in Thermo Fisher Scientific by 93.0% in the second 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 purchasing an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Thermo Fisher Scientific by 54.7% during the third 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 holdings in 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 buying an additional 977,127 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michel Lagarde sold 32,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the sale, the chief operating officer directly owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,234 shares of company stock valued at $65,896,375 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research report on Sunday, December 7th. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays lifted their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $539.45 on Wednesday. The business has a 50 day moving average of $589.18 and a 200-day moving average of $544.35. The company has a market capitalization of $202.68 billion, a P/E ratio of 30.41, a P/E/G ratio of 3.15 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share 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 analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.10 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.