NEOS Investment Management LLC Has $24.91 Million Holdings in Thermo Fisher Scientific Inc. $TMO

NEOS Investment Management LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,364 shares of the medical research company’s stock after acquiring an additional 11,415 shares during the period. NEOS Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $24,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Cidel Asset Management Inc. raised its stake in shares of Thermo Fisher Scientific by 14.0% in the second quarter. Cidel Asset Management Inc. now owns 1,560 shares of the medical research company’s stock valued at $633,000 after purchasing an additional 191 shares in the last quarter. Accretive Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 1.3% in the second quarter. Accretive Wealth Partners LLC now owns 3,248 shares of the medical research company’s stock worth $1,317,000 after purchasing an additional 41 shares during the period. Finally, Lyell Wealth Management LP boosted its stake in Thermo Fisher Scientific by 4.3% during the second quarter. Lyell Wealth Management LP now owns 32,114 shares of the medical research company’s stock worth $13,021,000 after buying an additional 1,333 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Down 0.9%

NYSE TMO opened at $504.99 on Tuesday. The stock’s 50 day simple moving average is $584.19 and its 200 day simple moving average is $545.29. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The firm has a market cap of $189.73 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same quarter in the previous year, the firm earned $6.10 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a stock repurchase plan 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on TMO shares. Citigroup raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Leerink Partners increased their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Evercore reaffirmed an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock worth $63,355,935 in the last quarter. Insiders own 0.33% of the company’s stock.

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.