Thermo Fisher Scientific Inc. (TMO) Position Reduced by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 225,247 shares of the medical research company’s stock after selling 662 shares during the quarter. Thermo Fisher Scientific makes up approximately 2.3% of Cornerstone Investment Partners LLC’s holdings, making the stock its 26th biggest holding. Cornerstone Investment Partners LLC’s holdings in Thermo Fisher Scientific were worth $54,978,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Verition Fund Management LLC purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at $494,000. Private Capital Group LLC increased its position in Thermo Fisher Scientific by 57.3% during the 1st quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 315 shares during the period. Handelsbanken Fonder AB increased its position in Thermo Fisher Scientific by 38.9% during the 1st quarter. Handelsbanken Fonder AB now owns 163,565 shares of the medical research company’s stock valued at $33,770,000 after purchasing an additional 45,800 shares during the period. Summit Trail Advisors LLC increased its position in Thermo Fisher Scientific by 17,587.1% during the 1st quarter. Summit Trail Advisors LLC now owns 544,587 shares of the medical research company’s stock valued at $545,000 after purchasing an additional 541,508 shares during the period. Finally, BKD Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 52.4% during the 1st quarter. BKD Wealth Advisors LLC now owns 1,653 shares of the medical research company’s stock valued at $341,000 after purchasing an additional 568 shares during the period. Institutional investors own 86.10% of the company’s stock.

A number of research analysts have issued reports on TMO shares. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective on the stock in a research report on Monday, October 1st. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, September 24th. UBS Group started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They set a “buy” rating and a $295.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $300.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 26th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $259.91.

Shares of NYSE:TMO traded down $2.05 during midday trading on Friday, reaching $227.66. The company’s stock had a trading volume of 98,242 shares, compared to its average volume of 1,533,684. The company has a market capitalization of $94.52 billion, a PE ratio of 24.29, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.58 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a 12-month low of $181.51 and a 12-month high of $249.95.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.12. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.30 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 10.99 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, September 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $233.95, for a total value of $11,697,500.00. Following the sale, the chief executive officer now directly owns 320,122 shares of the company’s stock, valued at approximately $74,892,541.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Insiders sold a total of 196,070 shares of company stock worth $47,569,729 over the last ninety days. Insiders own 0.49% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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