Thermo Fisher Scientific Inc. $TMO Stock Holdings Lessened by ING Groep NV

ING Groep NV trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 80.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,016 shares of the medical research company’s stock after selling 128,055 shares during the quarter. ING Groep NV’s holdings in Thermo Fisher Scientific were worth $15,528,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Franklin Resources Inc. increased its position in Thermo Fisher Scientific by 11.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock worth $1,985,759,000 after buying an additional 498,238 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Thermo Fisher Scientific by 54.7% in the third 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 acquiring an additional 1,262,967 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after acquiring an additional 74,971 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s 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 completion of the sale, the executive vice president owned 18,731 shares in the company, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 108,996 shares of company stock valued at $63,355,935 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup raised their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $526.56 on Thursday. The business’s fifty day simple moving average is $588.09 and its two-hundred day simple moving average is $544.22. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company has a market cap of $197.83 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.93. 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 issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations 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 was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $6.10 EPS. Research 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 stock repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.