Zions Bancorporation National Association UT Boosts Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Zions Bancorporation National Association UT increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,639 shares of the medical research company’s stock after acquiring an additional 2,726 shares during the period. Zions Bancorporation National Association UT’s holdings in Thermo Fisher Scientific were worth $6,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after buying an additional 309,207 shares in the last quarter. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $2,264,615,000. Franklin Resources Inc. lifted its position in Thermo Fisher Scientific by 11.3% during the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the period. Bank of New York Mellon Corp grew its position in Thermo Fisher Scientific by 54.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Thermo Fisher Scientific by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after buying an additional 74,971 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TMO shares. Argus lifted their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Leerink Partners raised their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Citigroup increased 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 report on Friday, January 30th. Finally, Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 10,725 shares of the firm’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 completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This trade represents a 36.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares in the company, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,996 shares of company stock valued at $63,355,935 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.9%

Shares of TMO opened at $504.99 on Monday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The business’s 50 day moving average is $585.45 and its 200 day moving average is $545.03. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $189.73 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $6.10 earnings per share. 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 of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific 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.