Thermo Fisher Scientific Inc. $TMO Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,110 shares of the medical research company’s stock after selling 1,630 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Thermo Fisher Scientific were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Thermo Fisher Scientific by 28.9% in 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 during the period. 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. Cyndeo Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 3.0% during the second quarter. Cyndeo Wealth Partners LLC now owns 4,866 shares of the medical research company’s stock worth $1,973,000 after purchasing an additional 140 shares during the last quarter. Blue Zone Wealth Advisors LLC grew its position in Thermo Fisher Scientific by 7.5% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 12,248 shares of the medical research company’s stock valued at $4,966,000 after buying an additional 858 shares during the last quarter. Finally, Davis Rea LTD. increased its stake in Thermo Fisher Scientific by 14.8% in the 2nd quarter. Davis Rea LTD. now owns 43,294 shares of the medical research company’s stock valued at $17,573,000 after buying an additional 5,582 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.2%

NYSE:TMO opened at $543.46 on Friday. The company has a market capitalization of $204.18 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 3.13 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The stock has a fifty day simple moving average of $590.76 and a 200-day simple moving average of $542.88. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last announced its 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 during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the business posted $6.10 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. The trade was a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of the firm’s 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 owned 13,087 shares in the company, valued at approximately $7,698,558.62. This trade represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,292 shares of company stock worth $66,518,754 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TMO. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective on the stock. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. Finally, Stifel Nicolaus boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

About Thermo Fisher Scientific

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.