Thermo Fisher Scientific Inc. $TMO Stock Purchased by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,160 shares of the medical research company’s stock after purchasing an additional 4,550 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Thermo Fisher Scientific were worth $12,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank OZK bought a new position in Thermo Fisher Scientific during the 2nd quarter worth about $1,096,000. Ausdal Financial Partners Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $456,000. BlackRock Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $15,501,867,000. German American Bancorp Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $4,920,000. Finally, Parallax Volatility Advisers L.P. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $814,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 2,831 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total value of $1,999,959.95. Following the completion of the sale, the vice president owned 11,560 shares of the company’s stock, valued at approximately $8,166,562. This trade represents a 19.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Joseph R. Holmes sold 420 shares of Thermo Fisher Scientific stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the transaction, the chief accounting officer owned 2,966 shares of the company’s stock, valued at $1,734,546.46. This represents a 12.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 76,199 shares of company stock worth $45,896,780. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TMO shares. Piper Sandler initiated coverage on Thermo Fisher Scientific in a research note on Wednesday, September 9th. They issued an “overweight” rating for the company. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. CLSA initiated coverage on shares of Thermo Fisher Scientific in a report on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 price target on the stock. Finally, Guggenheim began coverage on shares of Thermo Fisher Scientific in a research note on Thursday, October 15th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $689.10.

Thermo Fisher Scientific Trading Down 0.0%

Shares of TMO stock opened at $696.78 on Monday. Thermo Fisher Scientific Inc. has a fifty-two week low of $435.27 and a fifty-two week high of $711.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.41 and a current ratio of 1.81. The stock has a 50 day simple moving average of $654.87 and a two-hundred day simple moving average of $552.94. The company has a market cap of $257.63 billion, a P/E ratio of 36.75, a PEG ratio of 2.84 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 EPS for the quarter, topping the consensus estimate of $6.40 by $0.28. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter last year, the firm posted $5.79 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts forecast that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current year.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.