Alps Advisors Inc. Lowers Stock Position in Thermo Fisher Scientific Inc. $TMO

Alps Advisors Inc. decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 60.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,215 shares of the medical research company’s stock after selling 1,852 shares during the period. Alps Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $589,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TMO. Norges Bank purchased a new stake in Thermo Fisher Scientific during the second quarter worth $2,264,615,000. Soundwatch Capital LLC purchased a new stake in Thermo Fisher Scientific during the second quarter worth approximately $807,713,000. Flossbach Von Storch SE grew its position in 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 raised its position in shares of 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 in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in Thermo Fisher Scientific by 282.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after buying an additional 977,127 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $509.93 on Friday. 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 50 day moving average price of $586.80 and a 200 day moving average price of $543.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a market capitalization of $191.59 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the business posted $6.10 earnings per share. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This trade represents a 32.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,996 shares of company stock worth $63,355,935 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent research reports. Leerink Partners raised their price target on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Citigroup lifted their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Barclays increased their price objective on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

About Thermo Fisher Scientific

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.