Bessemer Group Inc. Boosts Holdings in Thermo Fisher Scientific Inc. $TMO

Bessemer Group Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 540,350 shares of the medical research company’s stock after acquiring an additional 1,919 shares during the period. Bessemer Group Inc. owned about 0.14% of Thermo Fisher Scientific worth $262,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMO. Brighton Jones LLC grew its stake in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after buying an additional 988 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Thermo Fisher Scientific by 8.1% in the 2nd quarter. DAVENPORT & Co LLC now owns 5,048 shares of the medical research company’s stock valued at $2,047,000 after acquiring an additional 380 shares during the period. BankPlus Trust Department raised its position in Thermo Fisher Scientific by 4.6% in the 2nd quarter. BankPlus Trust Department now owns 2,752 shares of the medical research company’s stock valued at $1,116,000 after purchasing an additional 121 shares during the last quarter. Finally, WestEnd Advisors LLC grew its position in Thermo Fisher Scientific by 28.5% during the 2nd quarter. WestEnd Advisors LLC now owns 85,492 shares of the medical research company’s stock worth $34,665,000 after purchasing an additional 18,950 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Redburn Partners set a $580.00 target price on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. TD Cowen reduced their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Citigroup upped their price target on 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, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the company’s 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 trade represents a 32.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,517 shares of company stock worth $72,363,568 in the last 90 days. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $565.27 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The stock has a fifty day moving average of $592.76 and a two-hundred day moving average of $541.12. The company has a market capitalization of $212.38 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.29 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the previous year, the firm posted $6.10 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

About Thermo Fisher Scientific

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.