Mackay Shields LLC Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mackay Shields LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.3% in the second quarter, Holdings Channel.com reports. The firm owned 61,864 shares of the medical research company’s stock after selling 11,157 shares during the period. Mackay Shields LLC’s holdings in Thermo Fisher Scientific were worth $31,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Alliance Advisory Group LLC boosted its holdings in Thermo Fisher Scientific by 1.3% during the second quarter. Wealth Alliance Advisory Group LLC now owns 1,536 shares of the medical research company’s stock worth $775,000 after buying an additional 20 shares during the last quarter. McLean Asset Management Corp raised its holdings in Thermo Fisher Scientific by 2.2% during the 2nd quarter. McLean Asset Management Corp now owns 928 shares of the medical research company’s stock worth $483,000 after buying an additional 20 shares during the period. Avestar Capital LLC increased its position in shares of Thermo Fisher Scientific by 2.9% during the second quarter. Avestar Capital LLC now owns 700 shares of the medical research company’s stock worth $353,000 after acquiring an additional 20 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its holdings in Thermo Fisher Scientific by 0.8% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 2,649 shares of the medical research company’s stock worth $1,336,000 after purchasing an additional 21 shares in the last quarter. Finally, EPG Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 2.9% in the 2nd quarter. EPG Wealth Management LLC now owns 746 shares of the medical research company’s stock valued at $376,000 after acquiring an additional 21 shares in the last quarter. 85.50% of the stock is owned by institutional investors.

TMO traded up $7.95 during midday trading on Thursday, hitting $581.51. The company had a trading volume of 18,363 shares, compared to its average volume of 1,581,643. Thermo Fisher Scientific Inc. has a 52 week low of $433.52 and a 52 week high of $616.93. The company has a quick ratio of 2.11, a current ratio of 2.78 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $228.78 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 1.33 and a beta of 0.74. The stock’s 50 day moving average price is $566.41 and its 200 day moving average price is $513.36.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 28th. The medical research company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.51 by $0.09. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.75 billion. Thermo Fisher Scientific had a net margin of 22.47% and a return on equity of 29.43%. Research analysts predict that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback plan on Thursday, September 23rd that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of equities analysts have recently commented on the stock. KeyCorp increased their price objective on shares of Thermo Fisher Scientific from $555.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, September 20th. BTIG Research increased their price target on shares of Thermo Fisher Scientific from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Cowen raised their target price on shares of Thermo Fisher Scientific from $560.00 to $655.00 and gave the company an “outperform” rating in a research note on Thursday, September 23rd. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, June 23rd. Finally, Jefferies Financial Group assumed coverage on Thermo Fisher Scientific in a research note on Monday, September 20th. They issued a “hold” rating and a $540.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus target price of $597.50.

In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 572 shares of the business’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $536.54, for a total value of $306,900.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $539.05, for a total transaction of $5,390,500.00. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

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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