Wealthfront Advisers LLC Buys 6,954 Shares of Thermo Fisher Scientific Inc. $TMO

Wealthfront Advisers LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 45.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,385 shares of the medical research company’s stock after buying an additional 6,954 shares during the quarter. Wealthfront Advisers LLC’s holdings in Thermo Fisher Scientific were worth $10,857,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $807,713,000. Flossbach Von Storch SE grew its stake in shares of Thermo Fisher Scientific by 93.0% in 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 acquiring an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Thermo Fisher Scientific by 54.7% in the 3rd 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 during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 282.5% during 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. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $526.56 on Thursday. The firm has a 50 day simple moving average of $588.09 and a 200 day simple moving average of $544.22. The company has a market cap 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 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 one year low of $385.46 and a one year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter last year, the business posted $6.10 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was 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 trade represents a 32.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 108,996 shares of company stock valued at $63,355,935. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TMO shares. Morgan Stanley increased their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Citigroup raised their price target on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. TD Cowen cut their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price for the company. Finally, Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $633.68.

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.