Thermo Fisher Scientific Inc. $TMO Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,746 shares of the medical research company’s stock after selling 1,853 shares during the period. ProShare Advisors LLC’s holdings in Thermo Fisher Scientific were worth $31,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $2,264,615,000. Soundwatch Capital LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth $807,713,000. Flossbach Von Storch SE increased its holdings in shares of Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after purchasing an additional 1,314,182 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after purchasing an additional 977,127 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

TMO opened at $539.45 on Wednesday. The stock has a fifty day moving average price of $589.18 and a 200 day moving average price of $544.35. 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 Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The stock has a market cap of $202.68 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.15 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 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.10 earnings per share. Analysts forecast 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 approved a share repurchase program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMO. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. UBS Group restated a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Evercore reiterated an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Barclays raised their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insiders Place Their Bets

In related news, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,234 shares of company stock valued at $65,896,375 in the last quarter. Insiders own 0.33% of the company’s stock.

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.