Thermo Fisher Scientific Inc. $TMO Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 46.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,124 shares of the medical research company’s stock after selling 29,308 shares during the quarter. Public Sector Pension Investment Board’s holdings in Thermo Fisher Scientific were worth $16,066,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth about $807,713,000. Flossbach Von Storch SE grew its stake in shares of Thermo Fisher Scientific by 93.0% in the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after buying an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after acquiring an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its position in Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after acquiring an additional 977,127 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the sale, the chief operating officer owned 65,480 shares in the company, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 108,996 shares of company stock worth $63,355,935. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TMO shares. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Barclays upped their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

TMO opened at $504.99 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $585.45 and its 200 day moving average price is $544.55. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm has a market cap of $189.73 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the prior year, the firm earned $6.10 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.