China Universal Asset Management Co. Ltd. Invests $1.92 Million in Thermo Fisher Scientific Inc. $TMO

China Universal Asset Management Co. Ltd. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,963 shares of the medical research company’s stock, valued at approximately $1,924,000.

A number of other institutional investors also recently modified their holdings of TMO. Highline Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Cloud Capital Management LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $31,000. Capital A Wealth Management LLC increased its stake 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 buying an additional 66 shares during the period. Elevation Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 35.1% during the third 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 during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.3%

TMO opened at $514.99 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a fifty day moving average of $580.48 and a 200-day moving average of $545.13. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The company has a market capitalization of $193.49 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.96 and a beta of 0.93.

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 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 business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the company earned $6.10 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the completion of the transaction, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,996 shares of company stock worth $63,355,935 in the last quarter. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of a number of research reports. Argus upped their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Citigroup lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Stifel Nicolaus increased their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. One 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 company. According to data from MarketBeat.com, the company currently has a consensus 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.