Thermo Fisher Scientific Inc. $TMO Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 74,647 shares of the medical research company’s stock after selling 11,911 shares during the quarter. Thermo Fisher Scientific comprises about 1.9% of Coronation Fund Managers Ltd.’s holdings, making the stock its 15th largest position. Coronation Fund Managers Ltd.’s holdings in Thermo Fisher Scientific were worth $36,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after buying an additional 988 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 35.4% in the second quarter. Mutual Advisors LLC now owns 3,266 shares of the medical research company’s stock valued at $1,324,000 after purchasing an additional 853 shares during the period. Nordea Investment Management AB raised its stake in shares of Thermo Fisher Scientific by 5.9% during the second quarter. Nordea Investment Management AB now owns 63,191 shares of the medical research company’s stock worth $25,979,000 after purchasing an additional 3,512 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.4% during the second quarter. Stratos Wealth Advisors LLC now owns 2,406 shares of the medical research company’s stock worth $976,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Evercore restated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research note on Sunday, December 7th. Argus lifted their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. 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’s stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $504.99 on Friday. The business has a 50 day moving average price of $585.45 and a 200 day moving average price of $544.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The company has a market capitalization of $189.73 billion, a P/E ratio of 28.47, a PEG ratio of 2.91 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.

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, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.10 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 108,996 shares of company stock worth $63,355,935. 0.33% of the stock is currently owned by insiders.

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.