Midwest Trust Co Has $43.26 Million Position in Thermo Fisher Scientific Inc. $TMO

Midwest Trust Co grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,198 shares of the medical research company’s stock after buying an additional 3,493 shares during the quarter. Midwest Trust Co’s holdings in Thermo Fisher Scientific were worth $43,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $807,713,000. Flossbach Von Storch SE raised its holdings in shares of Thermo Fisher Scientific by 93.0% in the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after buying an additional 1,314,182 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Thermo Fisher Scientific by 54.7% during 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 purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in shares of 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 valued at $536,450,000 after buying an additional 977,127 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of a number of analyst reports. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 9th. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Evercore reissued an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Finally, Wall Street Zen cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Trading Up 0.7%

NYSE:TMO opened at $546.77 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The firm has a 50-day moving average of $589.99 and a 200-day moving average of $543.92. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a market cap of $205.43 billion, a PE ratio of 30.82, a PEG ratio of 3.13 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the firm earned $6.10 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Lisa P. Britt sold 1,058 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the sale, the vice president owned 13,087 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 114,292 shares of company stock valued at $66,518,754. 0.33% of the stock is currently owned by corporate insiders.

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.