Guinness Atkinson Asset Management Inc Raises Stock Position in Thermo Fisher Scientific Inc. $TMO

Guinness Atkinson Asset Management Inc boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,428 shares of the medical research company’s stock after purchasing an additional 1,094 shares during the quarter. Thermo Fisher Scientific comprises 2.5% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 22nd biggest position. Guinness Atkinson Asset Management Inc’s holdings in Thermo Fisher Scientific were worth $5,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Capital A Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $31,000. Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific in the second quarter worth $33,000. Finally, Harbor Asset Planning Inc. bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $34,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 4.1%

TMO opened at $541.94 on Friday. The firm has a market capitalization of $203.61 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 3.26 and a beta of 0.93. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The business has a 50 day simple moving average of $591.73 and a two-hundred day simple moving average of $541.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.10 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Leerink Partners increased their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. The trade was a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on 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 owned 18,731 shares in the company, valued at $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 90 days, insiders sold 114,292 shares of company stock valued at $66,518,754. 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.