QRG Capital Management Inc. Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

QRG Capital Management Inc. increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 58.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,832 shares of the medical research company’s stock after buying an additional 16,090 shares during the period. QRG Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $27,113,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Thermo Fisher Scientific by 0.4% during the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after acquiring an additional 117,353 shares during the last quarter. Capital World Investors increased its stake in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after buying an additional 156,675 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after buying an additional 123,523 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of analyst reports. Sanford C. Bernstein cut their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada dropped their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.0 %

Shares of TMO traded down $0.26 during midday trading on Monday, hitting $557.66. 63,214 shares of the company’s stock traded hands, compared to its average volume of 1,459,893. Thermo Fisher Scientific Inc. has a 1 year low of $437.26 and a 1 year high of $627.88. The firm’s fifty day moving average is $599.39 and its 200-day moving average is $583.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $213.02 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the business posted $5.69 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,300 shares of company stock valued at $6,831,268 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.