Advisors Asset Management Inc. Sells 1,871 Shares of Thermo Fisher Scientific Inc. $TMO

Advisors Asset Management Inc. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.6% in the third quarter, HoldingsChannel reports. The firm owned 17,581 shares of the medical research company’s stock after selling 1,871 shares during the period. Advisors Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $8,527,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TMO. Highline Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $31,000. Capital A Wealth Management LLC increased its stake in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after acquiring an additional 66 shares during the period. Elevation Wealth Partners LLC raised 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 acquiring an additional 20 shares in the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $526.56 on Thursday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company’s fifty day moving average price is $588.09 and its 200-day moving average price is $544.22. The stock has a market cap of $197.83 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.11 and a beta of 0.93. 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 issued 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. 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 period in the previous year, the company earned $6.10 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares in the company, valued at $8,586,868.56. This trade represents a 32.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,996 shares of company stock worth $63,355,935 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Stifel Nicolaus raised their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, Barclays upped their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.