MAI Capital Management Boosts Holdings in Thermo Fisher Scientific Inc. $TMO

MAI Capital Management increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,025 shares of the medical research company’s stock after purchasing an additional 7,868 shares during the period. MAI Capital Management’s holdings in Thermo Fisher Scientific were worth $24,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after buying an additional 988 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% in the fourth 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 in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 4.8% in the second quarter. Ashton Thomas Private Wealth LLC now owns 10,958 shares of the medical research company’s stock valued at $4,448,000 after purchasing an additional 500 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth approximately $734,000. Finally, Rossby Financial LCC grew its holdings in Thermo Fisher Scientific by 6.1% in the 2nd quarter. Rossby Financial LCC now owns 1,714 shares of the medical research company’s stock valued at $695,000 after buying an additional 98 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Barclays upped their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report 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. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Argus increased their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Price Performance

TMO stock opened at $515.79 on Wednesday. The business’s fifty day moving average price is $576.98 and its 200 day moving average price is $547.48. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The company has a market capitalization of $193.79 billion, a PE ratio of 29.07, a P/E/G ratio of 2.98 and a beta of 0.93. The company has a current ratio of 1.89, a quick ratio of 1.53 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 for the quarter, topping 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 firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the firm earned $6.10 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 32,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the transaction, the chief operating officer directly owned 65,480 shares in the company, valued at $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This represents a 32.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 98,271 shares of company stock worth $56,920,935. 0.33% of the stock is currently owned by insiders.

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.