Wealthfront Advisers LLC Acquires 6,954 Shares of Thermo Fisher Scientific Inc. $TMO

Wealthfront Advisers LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 45.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,385 shares of the medical research company’s stock after acquiring an additional 6,954 shares during the quarter. Wealthfront Advisers LLC’s holdings in Thermo Fisher Scientific were worth $10,857,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of 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 lifted its holdings in Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 19.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,570 shares of the medical research company’s stock valued at $1,853,000 after purchasing an additional 748 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Thermo Fisher Scientific by 2.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 106,999 shares of the medical research company’s stock valued at $45,097,000 after purchasing an additional 2,062 shares during the last quarter. Finally, MGO One Seven LLC grew its position in shares of Thermo Fisher Scientific by 26.7% during the 2nd quarter. MGO One Seven LLC now owns 3,204 shares of the medical research company’s stock worth $1,299,000 after buying an additional 676 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $526.56 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm’s 50 day moving average is $588.09 and its 200-day moving average is $544.22. The company has a market capitalization of $197.83 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.11 and a beta of 0.93. 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 issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.10 EPS. Equities research analysts anticipate 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 authorized a share repurchase 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. Evercore reissued an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the sale, the executive vice president owned 14,367 shares in the company, valued at $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 is available through this link. Also, COO Michel Lagarde sold 32,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the transaction, the chief operating officer owned 65,480 shares in the company, valued at $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 108,996 shares of company stock worth $63,355,935 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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.