North Star Asset Management Inc. Buys 1,491 Shares of Thermo Fisher Scientific Inc. $TMO

North Star Asset Management Inc. increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,054 shares of the medical research company’s stock after acquiring an additional 1,491 shares during the quarter. Thermo Fisher Scientific comprises about 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 27th biggest holding. North Star Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $30,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC increased its holdings in shares of 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 worth $29,000 after purchasing an additional 33 shares during the period. Capital A Wealth Management LLC increased its stake in 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 acquiring an additional 66 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

TMO opened at $515.79 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock’s 50 day simple moving average is $576.98 and its 200 day simple moving average is $547.48. The firm has a market cap of $193.79 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.98 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter in the prior year, the firm posted $6.10 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TMO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research note on Sunday, December 7th. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research note on Friday, January 30th. Stifel Nicolaus increased their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Citigroup boosted their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insiders Place Their Bets

In related news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares in the company, valued at $47,404,976.52. The trade was a 20.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,271 shares of company stock valued at $56,920,935 in the last quarter. Insiders own 0.33% of the company’s stock.

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.