Cornerstone Investment Partners LLC lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,247 shares of the medical research company’s stock after selling 662 shares during the period. Thermo Fisher Scientific accounts for about 2.3% of Cornerstone Investment Partners LLC’s holdings, making the stock its 26th biggest position. Cornerstone Investment Partners LLC owned 0.06% of Thermo Fisher Scientific worth $54,978,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Pitcairn Co. grew its stake in Thermo Fisher Scientific by 1.3% during the second quarter. Pitcairn Co. now owns 16,871 shares of the medical research company’s stock valued at $3,495,000 after acquiring an additional 215 shares in the last quarter. Nvwm LLC grew its stake in Thermo Fisher Scientific by 6.1% during the second quarter. Nvwm LLC now owns 4,231 shares of the medical research company’s stock valued at $877,000 after acquiring an additional 242 shares in the last quarter. Tiedemann Advisors LLC grew its stake in Thermo Fisher Scientific by 19.4% during the second quarter. Tiedemann Advisors LLC now owns 1,518 shares of the medical research company’s stock valued at $315,000 after acquiring an additional 247 shares in the last quarter. Chesapeake Wealth Management grew its stake in Thermo Fisher Scientific by 6.0% during the second quarter. Chesapeake Wealth Management now owns 4,393 shares of the medical research company’s stock valued at $910,000 after acquiring an additional 249 shares in the last quarter. Finally, Private Capital Advisors Inc. grew its stake in Thermo Fisher Scientific by 0.7% during the third quarter. Private Capital Advisors Inc. now owns 38,990 shares of the medical research company’s stock valued at $9,517,000 after acquiring an additional 252 shares in the last quarter. 86.10% of the stock is owned by institutional investors.
Several equities analysts recently commented on TMO shares. Goldman Sachs Group cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective for the company in a research note on Monday, October 1st. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, September 24th. UBS Group started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 9th. They set a “buy” rating and a $295.00 price objective for the company. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $259.91.
Thermo Fisher Scientific stock traded down $2.05 during mid-day trading on Friday, hitting $227.66. 98,242 shares of the company traded hands, compared to its average volume of 1,533,684. Thermo Fisher Scientific Inc. has a one year low of $181.51 and a one year high of $249.95. The firm has a market cap of $94.52 billion, a PE ratio of 24.29, a PEG ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.58 and a quick ratio of 1.11.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the business posted $2.30 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 10.99 earnings per share for the current year.
Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, September 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the completion of the sale, the chief executive officer now directly owns 320,122 shares in the company, valued at $74,892,541.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick M. Durbin sold 20,550 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total transaction of $4,806,028.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,070 shares of company stock valued at $47,569,729. 0.49% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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