Factory Mutual Insurance Co. Increases Holdings in Thermo Fisher Scientific Inc. $TMO

Factory Mutual Insurance Co. increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 98,935 shares of the medical research company’s stock after acquiring an additional 2,500 shares during the period. Factory Mutual Insurance Co.’s holdings in Thermo Fisher Scientific were worth $47,985,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $2,264,615,000. Soundwatch Capital LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $807,713,000. Flossbach Von Storch SE boosted its stake in shares of Thermo Fisher Scientific by 93.0% during 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 purchasing an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after buying 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 second 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 period. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TMO shares. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. UBS Group restated a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. TD Cowen reduced their price objective on shares of 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. Finally, KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares in the company, valued at $47,404,976.52. This trade represents a 20.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,996 shares of company stock worth $63,355,935 in the last 90 days. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.3%

TMO stock opened at $514.99 on Friday. The stock has a market capitalization 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 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 firm has a 50 day moving average of $580.48 and a 200 day moving average of $545.13.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 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 the consensus estimate of $11.95 billion. During the same period in the previous year, the firm posted $6.10 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized 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 often a sign that the company’s board 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.