Montag A & Associates Inc. raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,728 shares of the medical research company’s stock after acquiring an additional 217 shares during the quarter. Montag A & Associates Inc.’s holdings in Thermo Fisher Scientific were worth $6,953,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TMO. Halpern Financial Inc. grew its position in shares of Thermo Fisher Scientific by 307.7% in the 3rd quarter. Halpern Financial Inc. now owns 53 shares of the medical research company’s stock valued at $27,000 after buying an additional 40 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Live Oak Investment Partners acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $36,000. Tyler Stone Wealth Management bought a new position in Thermo Fisher Scientific during the second quarter worth $37,000. Finally, Indiana Trust & Investment Management CO acquired a new position in Thermo Fisher Scientific in the third quarter valued at $38,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the transaction, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Thermo Fisher Scientific Trading Down 0.7 %
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to the consensus estimate of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 earnings per share. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.57 EPS for the current year.
Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 14th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on TMO. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Raymond James increased their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. KeyCorp cut Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 26th. Morgan Stanley dropped their price target on Thermo Fisher Scientific from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $596.00.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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