BI Asset Management Fondsmaeglerselskab A S Has $49.74 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 65.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 107,938 shares of the medical research company’s stock after buying an additional 42,724 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Thermo Fisher Scientific were worth $49,737,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,912 shares of the firm’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 transaction, the executive vice president owned 14,367 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific 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 transaction, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 124,517 shares of company stock valued at $72,363,568. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $565.27 on Thursday. The firm has a market capitalization of $212.38 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.29 and a beta of 0.93. The business has a 50-day simple moving average of $592.76 and a 200 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 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 analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $6.10 earnings per share. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TMO. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Wall Street Zen cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Stifel Nicolaus increased their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Finally, Argus lifted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.