Prime Capital Investment Advisors LLC Grows Stock Position in Thermo Fisher Scientific Inc. $TMO

Prime Capital Investment Advisors LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,657 shares of the medical research company’s stock after acquiring an additional 7,981 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $16,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Norges Bank purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $807,713,000. Flossbach Von Storch SE grew its holdings in shares of Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after buying an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in Thermo Fisher Scientific by 282.5% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $2.80 during mid-day trading on Friday, hitting $539.56. The stock had a trading volume of 183,312 shares, compared to its average volume of 2,562,704. The company has a 50 day simple moving average of $591.73 and a 200 day simple moving average of $541.12. The company has a market cap of $202.72 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 3.26 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. 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 announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during 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 for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $6.10 earnings per share. Equities analysts forecast 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 approved a share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on TMO. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a research note on Sunday, December 7th. TD Cowen dropped their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. 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’s stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at $8,586,868.56. The trade was a 32.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 114,292 shares of company stock valued at $66,518,754. Company insiders own 0.33% of the company’s stock.

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.