Guinness Asset Management LTD Purchases 10,925 Shares of Thermo Fisher Scientific Inc. $TMO

Guinness Asset Management LTD increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,957 shares of the medical research company’s stock after purchasing an additional 10,925 shares during the period. Guinness Asset Management LTD’s holdings in Thermo Fisher Scientific were worth $39,254,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Financial Management Network Inc. lifted its holdings in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 18 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after buying an additional 19 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Finally, S.A. Mason LLC raised its holdings in shares of Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $541.94 on Friday. The company has a market capitalization of $203.61 billion, a P/E ratio of 30.55, a P/E/G ratio of 3.26 and a beta of 0.93. The business has a fifty day simple moving average of $591.73 and a two-hundred day simple moving average of $541.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. 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 posted its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share 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 return on equity of 16.92% and a net margin of 15.05%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.10 EPS. On average, analysts expect 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 share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,912 shares of the firm’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 completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the sale, the vice president owned 13,087 shares in the company, valued at approximately $7,698,558.62. The trade was a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 114,292 shares of company stock valued at $66,518,754. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TMO has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. TD Cowen reduced their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Argus lifted their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

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.