Midwest Trust Co Raises Holdings in Thermo Fisher Scientific Inc. $TMO

Midwest Trust Co increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 89,198 shares of the medical research company’s stock after purchasing an additional 3,493 shares during the period. Midwest Trust Co’s holdings in Thermo Fisher Scientific were worth $43,263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TMO. TIAA Trust National Association lifted its holdings in shares of Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after acquiring an additional 11,817 shares during the last quarter. Lombard Odier Asset Management Switzerland SA boosted its stake in shares of Thermo Fisher Scientific by 8.4% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares during the period. Weaver Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $506,000. Heritage Investors Management Corp raised its holdings in Thermo Fisher Scientific by 9.6% during the 2nd quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock valued at $22,944,000 after buying an additional 4,971 shares during the last quarter. Finally, VELA Investment Management LLC raised its position in Thermo Fisher Scientific by 65.5% during the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after purchasing an additional 3,683 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TMO. TD Cowen dropped their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays lifted their target price 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. Morgan Stanley boosted 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. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Finally, Argus boosted their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $546.77 on Tuesday. The firm has a market cap of $205.43 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 3.13 and a beta of 0.93. The business has a 50-day moving average price of $589.99 and a 200-day moving average price of $543.92. 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.

Thermo Fisher Scientific (NYSE:TMO) last released 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. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter last year, the business earned $6.10 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total transaction of $622,379.08. Following the transaction, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. This represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This trade represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,292 shares of company stock worth $66,518,754 over the last three months. Company 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.