Impax Asset Management Group plc Sells 20,515 Shares of Thermo Fisher Scientific Inc. $TMO

Impax Asset Management Group plc decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.0% during the 3rd quarter, Holdings Channel reports. The firm owned 150,031 shares of the medical research company’s stock after selling 20,515 shares during the quarter. Impax Asset Management Group plc’s holdings in Thermo Fisher Scientific were worth $72,768,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Soundwatch Capital LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $807,713,000. Flossbach Von Storch SE grew its holdings in 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 worth $1,105,698,000 after purchasing an additional 1,314,182 shares during the period. Bank of New York Mellon Corp increased its stake in Thermo Fisher Scientific by 54.7% in the third 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 purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after purchasing an additional 977,127 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TMO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Leerink Partners boosted their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a report on Friday, January 30th. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Barclays raised 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $539.45 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock has a market cap of $202.68 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 3.15 and a beta of 0.93. The stock’s fifty day simple moving average is $589.18 and its two-hundred day simple moving average is $544.35. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results 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 company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the company posted $6.10 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes 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 believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. This trade represents a 32.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This trade represents a 32.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,234 shares of company stock valued at $65,896,375 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.