Thermo Fisher Scientific Inc. (TMO) Stake Lowered by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,151 shares of the medical research company’s stock after selling 2,164 shares during the quarter. Thermo Fisher Scientific accounts for 2.7% of Gofen & Glossberg LLC IL’s portfolio, making the stock its 4th largest position. Gofen & Glossberg LLC IL owned about 0.08% of Thermo Fisher Scientific worth $79,119,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in Thermo Fisher Scientific by 1.9% during the second quarter. Rockefeller Capital Management L.P. now owns 19,770 shares of the medical research company’s stock valued at $4,095,000 after purchasing an additional 375 shares during the period. Swiss National Bank lifted its position in Thermo Fisher Scientific by 3.2% during the second quarter. Swiss National Bank now owns 1,328,332 shares of the medical research company’s stock valued at $275,151,000 after purchasing an additional 41,800 shares during the period. SNS Financial Group LLC lifted its position in Thermo Fisher Scientific by 43.0% during the second quarter. SNS Financial Group LLC now owns 1,461 shares of the medical research company’s stock valued at $302,000 after purchasing an additional 439 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Thermo Fisher Scientific by 465.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 53,864 shares of the medical research company’s stock valued at $11,157,000 after purchasing an additional 44,334 shares during the period. Finally, Stevens Capital Management LP lifted its position in Thermo Fisher Scientific by 1,134.7% during the second quarter. Stevens Capital Management LP now owns 134,989 shares of the medical research company’s stock valued at $27,962,000 after purchasing an additional 124,056 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

TMO opened at $231.41 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58. Thermo Fisher Scientific Inc. has a 1-year low of $181.51 and a 1-year high of $249.95. The company has a market capitalization of $98.31 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the firm earned $2.30 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Friday, September 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the completion of the transaction, the chief executive officer now owns 320,122 shares in the company, valued at $74,892,541.90. The disclosure for this sale can be found here. Insiders sold 196,070 shares of company stock worth $47,569,729 over the last quarter. Insiders own 0.49% of the company’s stock.

A number of research analysts recently weighed in on TMO shares. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 price objective on the stock in a research report on Monday, August 6th. Barclays increased their price objective on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, September 24th. JPMorgan Chase & Co. restated an “overweight” rating and set a $300.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $233.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus target price of $259.91.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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