Ontario Teachers Pension Plan Board Purchases New Stake in Thermo Fisher Scientific Inc. $TMO

Ontario Teachers Pension Plan Board acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,798 shares of the medical research company’s stock, valued at approximately $11,543,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Highline Wealth Partners LLC grew its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Capital A Wealth Management LLC increased its stake in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute purchased a new stake in Thermo Fisher Scientific during the second quarter worth $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TMO. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Leerink Partners upped their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. KeyCorp raised 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 report on Sunday, December 7th. Finally, Citigroup upped their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One equities 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.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Stock Up 2.5%

TMO opened at $514.03 on Thursday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The business has a 50-day moving average of $581.74 and a two-hundred day moving average of $545.34. 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 stock has a market capitalization of $193.12 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 2.89 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping 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 analyst estimates of $11.95 billion. During the same period in the prior year, the firm posted $6.10 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, research analysts expect 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 approved a stock 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. The trade was a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock valued at $63,355,935 over the last quarter. 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.