New South Capital Management Inc. Sells 2,413 Shares of Thermo Fisher Scientific Inc. $TMO

New South Capital Management Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 148,290 shares of the medical research company’s stock after selling 2,413 shares during the quarter. Thermo Fisher Scientific accounts for approximately 3.3% of New South Capital Management Inc.’s holdings, making the stock its 9th largest holding. New South Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $71,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Management Network Inc. raised its holdings in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after acquiring an additional 19 shares during the period. Elevation Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares during the period. Hopwood Financial Services Inc. increased its holdings in shares of Thermo Fisher Scientific by 9.1% in the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock valued at $116,000 after purchasing an additional 20 shares during the period. Finally, Stratos Wealth Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 0.8% in the third quarter. Stratos Wealth Advisors LLC now owns 2,426 shares of the medical research company’s stock worth $1,177,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $509.93 on Friday. The firm has a market cap of $191.59 billion, a PE ratio of 28.74, a P/E/G ratio of 3.04 and a beta of 0.93. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $586.80 and a 200 day moving average price of $543.99.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $6.10 earnings per share. Sell-side analysts predict 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 approved a stock buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. Stifel Nicolaus boosted their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Morgan Stanley raised their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,996 shares of company stock valued at $63,355,935. Insiders own 0.33% of the company’s stock.

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.