China Universal Asset Management Co. Ltd. Invests $1.92 Million in Thermo Fisher Scientific Inc. $TMO

China Universal Asset Management Co. Ltd. acquired a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,963 shares of the medical research company’s stock, valued at approximately $1,924,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Capital A Wealth Management LLC increased its stake in shares of 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 purchasing an additional 66 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $31,000. Howard Hughes Medical Institute bought a new stake in Thermo Fisher Scientific in the second quarter worth $33,000. Finally, Elevation Wealth Partners LLC increased its position in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after buying an additional 20 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction 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 of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock worth $63,355,935 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TMO. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Evercore reissued an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Finally, Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Up 0.3%

TMO stock opened at $514.99 on Friday. The business’s 50-day simple moving average is $580.48 and its 200 day simple moving average is $545.13. 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 company has a market cap of $193.49 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations 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 revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.10 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a share buyback 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 an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Company 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.