Tredje AP fonden Sells 32,000 Shares of Thermo Fisher Scientific Inc. $TMO

Tredje AP fonden reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 169,971 shares of the medical research company’s stock after selling 32,000 shares during the period. Tredje AP fonden’s holdings in Thermo Fisher Scientific were worth $82,439,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Capital A Wealth Management LLC grew its holdings in shares of 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 valued at $30,000 after acquiring an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific during the third quarter worth about $31,000. Howard Hughes Medical Institute acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Finally, Elevation Wealth Partners LLC grew its stake in 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 valued at $37,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TMO. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Argus increased their price target on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. TD Cowen cut their target price on shares of 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction 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 sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 108,996 shares of company stock valued at $63,355,935. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $510.96 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a market capitalization of $191.97 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.97 and a beta of 0.93. The company has a 50-day simple moving average of $579.25 and a 200 day simple moving average of $545.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $11.95 billion. During the same period last year, the business posted $6.10 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side 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 of Directors has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.