Border to Coast Pensions Partnership Ltd Buys 29,064 Shares of Thermo Fisher Scientific Inc. $TMO

Border to Coast Pensions Partnership Ltd boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,197 shares of the medical research company’s stock after acquiring an additional 29,064 shares during the period. Thermo Fisher Scientific accounts for about 1.4% of Border to Coast Pensions Partnership Ltd’s holdings, making the stock its 16th biggest position. Border to Coast Pensions Partnership Ltd’s holdings in Thermo Fisher Scientific were worth $82,549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TIAA Trust National Association grew its position in Thermo Fisher Scientific by 10.5% during the second quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after buying an additional 11,817 shares in the last quarter. Lombard Odier Asset Management Switzerland SA boosted its position in shares of Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after acquiring an additional 1,128 shares during the last quarter. Weaver Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $506,000. Heritage Investors Management Corp lifted its position in Thermo Fisher Scientific by 9.6% during the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock valued at $22,944,000 after purchasing an additional 4,971 shares during the last quarter. Finally, VELA Investment Management LLC grew its stake in Thermo Fisher Scientific by 65.5% in the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after buying an additional 3,683 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $565.27 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The business has a 50 day moving average price of $592.76 and a 200-day moving average price of $541.12. The firm has a market cap of $212.38 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 3.29 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the prior year, the company posted $6.10 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 of Directors has approved a stock buyback program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Evercore ISI restated an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insiders Place Their Bets

In related news, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This trade represents a 32.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Lisa P. Britt sold 10,225 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the transaction, the vice president directly owned 14,145 shares in the company, valued at approximately $8,085,564.90. The trade was a 41.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 124,517 shares of company stock worth $72,363,568. 0.33% of the stock is currently owned by company 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.