Guinness Asset Management LTD Purchases 10,925 Shares of Thermo Fisher Scientific Inc. $TMO

Guinness Asset Management LTD raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.8% in the 3rd quarter, Holdings Channel reports. The firm owned 84,957 shares of the medical research company’s stock after buying an additional 10,925 shares during the quarter. Guinness Asset Management LTD’s holdings in Thermo Fisher Scientific were worth $39,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after buying an additional 20 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Thermo Fisher Scientific by 8.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 5,048 shares of the medical research company’s stock valued at $2,047,000 after buying an additional 380 shares in the last quarter. Sax Wealth Advisors LLC grew its position in Thermo Fisher Scientific by 152.6% in the second quarter. Sax Wealth Advisors LLC now owns 1,579 shares of the medical research company’s stock worth $640,000 after acquiring an additional 954 shares in the last quarter. Finally, REAP Financial Group LLC increased its stake in Thermo Fisher Scientific by 131.1% in the second quarter. REAP Financial Group LLC now owns 104 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total transaction of $622,379.08. Following the sale, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. The trade was a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,292 shares of company stock valued at $66,518,754 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Barclays increased their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Argus upped their price target on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One 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. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Trading Down 4.1%

Shares of TMO opened at $541.94 on Friday. The firm has a fifty day simple moving average of $591.73 and a two-hundred day simple moving average of $541.12. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The stock has a market capitalization of $203.61 billion, a P/E ratio of 30.55, a PEG ratio of 3.26 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 posted its 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. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. During the same period in the prior year, the business posted $6.10 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a share repurchase program 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are 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.