Cable Hill Partners LLC Increases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cable Hill Partners LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 90.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,820 shares of the medical research company’s stock after buying an additional 1,340 shares during the period. Thermo Fisher Scientific comprises about 0.3% of Cable Hill Partners LLC’s holdings, making the stock its 25th largest position. Cable Hill Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. MV Capital Management Inc. boosted its position in Thermo Fisher Scientific by 577.8% in the second quarter. MV Capital Management Inc. now owns 61 shares of the medical research company’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Bedel Financial Consulting Inc. lifted its position in shares of Thermo Fisher Scientific by 65.0% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 66 shares of the medical research company’s stock valued at $33,000 after buying an additional 26 shares during the last quarter. Lake Point Wealth Management purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $34,000. FFT Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $35,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $35,000. 85.50% of the stock is currently owned by institutional investors.

In other news, Director Jim P. Manzi sold 572 shares of the stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $536.54, for a total value of $306,900.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total value of $5,390,500.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

TMO stock traded up $7.78 during trading on Thursday, hitting $581.34. 17,431 shares of the company traded hands, compared to its average volume of 1,581,643. The firm has a market capitalization of $228.71 billion, a PE ratio of 26.59, a P/E/G ratio of 1.33 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $433.52 and a 1 year high of $616.93. The company has a 50-day moving average of $566.41 and a 200-day moving average of $513.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.11 and a current ratio of 2.78.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.51 by $0.09. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%. The business had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $8.75 billion. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a share buyback plan on Thursday, September 23rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of analysts recently issued reports on TMO shares. Citigroup boosted their price objective on Thermo Fisher Scientific from $535.00 to $620.00 and gave the company a “neutral” rating in a research note on Monday, September 20th. The Goldman Sachs Group upgraded Thermo Fisher Scientific from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, September 23rd. Argus upped their target price on Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Cowen upped their target price on Thermo Fisher Scientific from $560.00 to $655.00 and gave the stock an “outperform” rating in a research note on Thursday, September 23rd. Finally, SVB Leerink upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Buy” and a consensus price target of $597.50.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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