Thermo Fisher Scientific Inc. $TMO Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,255 shares of the medical research company’s stock after acquiring an additional 2,143 shares during the period. HighTower Advisors LLC’s holdings in Thermo Fisher Scientific were worth $70,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% in the fourth 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 in the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 14.0% in the second quarter. Cidel Asset Management Inc. now owns 1,560 shares of the medical research company’s stock valued at $633,000 after purchasing an additional 191 shares during the last quarter. Accretive Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 1.3% during the second quarter. Accretive Wealth Partners LLC now owns 3,248 shares of the medical research company’s stock worth $1,317,000 after buying an additional 41 shares in the last quarter. Finally, Lyell Wealth Management LP grew its holdings in Thermo Fisher Scientific by 4.3% in the 2nd quarter. Lyell Wealth Management LP now owns 32,114 shares of the medical research company’s stock valued at $13,021,000 after buying an additional 1,333 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on TMO shares. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. UBS Group reissued a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Argus upped 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. 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 report on Friday, January 30th. Finally, Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

TMO opened at $504.99 on Tuesday. The stock’s 50-day moving average price is $584.19 and its 200 day moving average price is $545.29. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm has a market cap of $189.73 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.91 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 (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the firm earned $6.10 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication 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 business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value 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. This represents a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,996 shares of company stock valued at $63,355,935 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.