Fairbanks Capital Management Inc. Purchases 1,421 Shares of Thermo Fisher Scientific Inc. $TMO

Fairbanks Capital Management Inc. grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,248 shares of the medical research company’s stock after buying an additional 1,421 shares during the period. Fairbanks Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 126.9% in 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 during the period. Cloud Capital Management LLC purchased a new position in Thermo Fisher Scientific during the third quarter worth $31,000. Capital A Wealth Management LLC increased its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of 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 worth $37,000 after acquiring an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $516.48 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The firm has a market cap of $194.05 billion, a PE ratio of 29.11, a P/E/G ratio of 2.95 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a fifty day moving average price of $578.07 and a 200-day moving average price of $547.09.

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. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was 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 of the company’s stock, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the sale, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,271 shares of company stock valued at $56,920,935 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several recent analyst reports. Evercore restated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Argus lifted their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. 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. Finally, Morgan Stanley boosted their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. One research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

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.