M&G PLC Buys 47,644 Shares of Thermo Fisher Scientific Inc. $TMO

M&G PLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 441,410 shares of the medical research company’s stock after buying an additional 47,644 shares during the period. Thermo Fisher Scientific accounts for about 1.1% of M&G PLC’s holdings, making the stock its 28th biggest holding. M&G PLC owned 0.12% of Thermo Fisher Scientific worth $214,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC bought a new stake in Thermo Fisher Scientific during the second quarter valued at $807,713,000. Flossbach Von Storch SE raised its position in shares of Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after acquiring an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after purchasing an additional 977,127 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In other news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares in the company, valued at $47,404,976.52. The trade was a 20.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 108,996 shares of company stock worth $63,355,935. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a report on Sunday, December 7th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, Leerink Partners boosted their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Down 0.9%

TMO stock opened at $504.99 on Monday. The stock’s 50 day moving average is $585.45 and its 200-day moving average is $545.03. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The firm has a market capitalization of $189.73 billion, a PE ratio of 28.47, a P/E/G ratio of 2.91 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

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

Thermo Fisher Scientific declared that its board has authorized a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific 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.