CenterBook Partners LP Boosts Stock Position in Thermo Fisher Scientific Inc. $TMO

CenterBook Partners LP raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 311.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,791 shares of the medical research company’s stock after purchasing an additional 2,870 shares during the quarter. CenterBook Partners LP’s holdings in Thermo Fisher Scientific were worth $1,839,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TMO. Brighton Jones LLC lifted its holdings in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Thermo Fisher Scientific by 5.7% during the second quarter. Cullen Frost Bankers Inc. now owns 32,789 shares of the medical research company’s stock worth $13,295,000 after buying an additional 1,754 shares in the last quarter. Brookstone Capital Management increased its holdings in Thermo Fisher Scientific by 9.8% in the second quarter. Brookstone Capital Management now owns 8,923 shares of the medical research company’s stock valued at $3,618,000 after buying an additional 795 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 17.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 3,928 shares of the medical research company’s stock valued at $1,593,000 after acquiring an additional 572 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $514.99 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $580.48 and a 200-day simple moving average of $545.13. The company has a market cap 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 announced its quarterly earnings results 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 company 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%. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $6.10 EPS. Equities research 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 allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 18,731 shares in the company, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 108,996 shares of company stock valued at $63,355,935. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. TD Cowen cut their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. Finally, Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.