Kovitz Investment Group Partners LLC Raises Position in Thermo Fisher Scientific Inc. $TMO

Kovitz Investment Group Partners LLC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 717,840 shares of the medical research company’s stock after buying an additional 7,033 shares during the quarter. Thermo Fisher Scientific comprises about 1.4% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 12th largest position. Kovitz Investment Group Partners LLC owned 0.19% of Thermo Fisher Scientific worth $348,170,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $2,264,615,000. Soundwatch Capital LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $807,713,000. Flossbach Von Storch SE increased its holdings in shares of Thermo Fisher Scientific by 93.0% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp raised its position in shares of Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after buying an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its position in Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after acquiring an additional 977,127 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at $47,404,976.52. The trade was a 20.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,996 shares of company stock valued at $63,355,935 over the last three months. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $510.96 on Friday. 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 business has a 50 day moving average price of $579.25 and a 200-day moving average price of $545.98. The firm has a market cap of $191.97 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

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 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 during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the prior year, the company posted $6.10 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Argus lifted their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. TD Cowen dropped their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Barclays upped their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Wall Street Zen lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Company 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.