Thermo Fisher Scientific Inc. $TMO Shares Bought by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,870 shares of the medical research company’s stock after acquiring an additional 1,783 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $15,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after buying an additional 988 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 4.2% during the fourth 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. Cyndeo Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 3.0% in the second quarter. Cyndeo Wealth Partners LLC now owns 4,866 shares of the medical research company’s stock worth $1,973,000 after purchasing an additional 140 shares during the period. Blue Zone Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 7.5% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 12,248 shares of the medical research company’s stock valued at $4,966,000 after purchasing an additional 858 shares in the last quarter. Finally, Davis Rea LTD. increased its position in shares of Thermo Fisher Scientific by 14.8% during the 2nd quarter. Davis Rea LTD. now owns 43,294 shares of the medical research company’s stock valued at $17,573,000 after purchasing an additional 5,582 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.2%

TMO stock opened at $543.46 on Friday. The company has a 50 day moving average of $590.76 and a two-hundred day moving average of $542.88. The company has a market cap of $204.18 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 3.13 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $6.10 EPS. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total transaction of $622,379.08. Following the completion of the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,292 shares of company stock worth $66,518,754 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TMO shares. Evercore reaffirmed an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. UBS Group reissued a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wall Street Zen lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Leerink Partners raised their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. One 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 stock. According to MarketBeat.com, the company currently has an average 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.