Thermo Fisher Scientific Inc. (NYSE:TMO) is Covea Finance’s 6th Largest Position

Covea Finance grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,611 shares of the medical research company’s stock after purchasing an additional 15,500 shares during the quarter. Thermo Fisher Scientific accounts for about 2.8% of Covea Finance’s holdings, making the stock its 6th biggest holding. Covea Finance’s holdings in Thermo Fisher Scientific were worth $64,709,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC grew its holdings in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 0.5 %

Shares of NYSE:TMO traded up $3.13 on Friday, hitting $596.92. 2,138,162 shares of the company’s stock were exchanged, compared to its average volume of 1,470,010. The firm’s 50-day moving average is $607.73 and its 200 day moving average is $583.34. The company has a market capitalization of $227.85 billion, a PE ratio of 38.29, a P/E/G ratio of 3.84 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.15 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TMO. Raymond James boosted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Finally, Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $653.72.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.