First National Trust Co Boosts Position in Thermo Fisher Scientific Inc. (TMO)

First National Trust Co boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,542 shares of the medical research company’s stock after purchasing an additional 1,367 shares during the quarter. First National Trust Co’s holdings in Thermo Fisher Scientific were worth $5,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank lifted its stake in Thermo Fisher Scientific by 3.2% during the 2nd quarter. Swiss National Bank now owns 1,328,332 shares of the medical research company’s stock valued at $275,151,000 after acquiring an additional 41,800 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Thermo Fisher Scientific by 6,260.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 13,039 shares of the medical research company’s stock valued at $2,701,000 after acquiring an additional 12,834 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Thermo Fisher Scientific by 1.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 19,770 shares of the medical research company’s stock valued at $4,095,000 after acquiring an additional 375 shares in the last quarter. SNS Financial Group LLC lifted its stake in Thermo Fisher Scientific by 43.0% during the 2nd quarter. SNS Financial Group LLC now owns 1,461 shares of the medical research company’s stock valued at $302,000 after acquiring an additional 439 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Thermo Fisher Scientific by 465.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 53,864 shares of the medical research company’s stock valued at $11,157,000 after acquiring an additional 44,334 shares in the last quarter. 85.64% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was 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 in the company, valued at approximately $74,892,541.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Several brokerages have weighed in on TMO. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 25th. Zacks Investment Research cut Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Leerink Swann raised their price objective on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, ValuEngine upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus target price of $261.45.

NYSE TMO opened at $234.21 on Friday. The firm has a market cap of $94.34 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. Thermo Fisher Scientific Inc. has a one year low of $181.51 and a one year high of $249.95. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business posted $2.31 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback plan on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

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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