Investors Sell Thermo Fisher Scientific (TMO) on Strength (TMO)

Investors sold shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on strength during trading on Friday. $74.42 million flowed into the stock on the tick-up and $139.88 million flowed out of the stock on the tick-down, for a money net flow of $65.46 million out of the stock. Of all stocks tracked, Thermo Fisher Scientific had the 0th highest net out-flow for the day. Thermo Fisher Scientific traded up $0.55 for the day and closed at $234.21

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a research note on Monday, October 1st. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. UBS Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target on the stock. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $261.45.

The company has a market capitalization of $94.34 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $2.31 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.

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

In related news, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the sale, the chief executive officer now directly owns 320,122 shares in the company, valued at $74,892,541.90. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TMO. Wells Fargo & Company MN increased its position in shares of Thermo Fisher Scientific by 0.7% in the 3rd quarter. Wells Fargo & Company MN now owns 3,213,226 shares of the medical research company’s stock valued at $784,285,000 after purchasing an additional 23,811 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Thermo Fisher Scientific by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,670,961 shares of the medical research company’s stock valued at $553,246,000 after purchasing an additional 82,255 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Thermo Fisher Scientific by 1.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,036,659 shares of the medical research company’s stock valued at $421,880,000 after purchasing an additional 34,401 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 3.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,566,563 shares of the medical research company’s stock valued at $324,498,000 after purchasing an additional 46,519 shares during the last quarter. Finally, Findlay Park Partners LLP increased its position in shares of Thermo Fisher Scientific by 8.9% in the 2nd quarter. Findlay Park Partners LLP now owns 1,525,000 shares of the medical research company’s stock valued at $315,889,000 after purchasing an additional 125,000 shares during the last quarter. 85.64% of the stock is currently owned by hedge funds and other institutional investors.

About Thermo Fisher Scientific (NYSE:TMO)

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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