Varma Mutual Pension Insurance Co Increases Holdings in Thermo Fisher Scientific Inc. $TMO

Varma Mutual Pension Insurance Co increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 65,917 shares of the medical research company’s stock after purchasing an additional 5,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Thermo Fisher Scientific were worth $31,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Network Inc. grew its stake in Thermo Fisher Scientific by 3.7% during the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 18 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings 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 purchasing an additional 19 shares during the period. Elevation Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd 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. Hopwood Financial Services Inc. boosted its stake in Thermo Fisher Scientific by 9.1% during the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock valued at $116,000 after buying an additional 20 shares during the period. Finally, Stratos Wealth Advisors LLC increased its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,426 shares of the medical research company’s stock worth $1,177,000 after acquiring an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO opened at $526.56 on Thursday. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The firm has a market capitalization of $197.83 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 3.11 and a beta of 0.93. The firm’s 50-day moving average price is $588.09 and its 200-day moving average price is $544.22. 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 (NYSE:TMO) last announced its earnings results 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. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s 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. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Analyst Ratings Changes

TMO has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Argus upped their price objective 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. Stifel Nicolaus lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock valued at $63,355,935 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.