Montag A & Associates Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,728 shares of the medical research company’s stock after acquiring an additional 217 shares during the quarter. Montag A & Associates Inc.’s holdings in Thermo Fisher Scientific were worth $6,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IPG Investment Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $838,000. Cornerstone Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 17,700 shares of the medical research company’s stock valued at $8,959,000 after purchasing an additional 300 shares during the period. Rhenman & Partners Asset Management AB raised its holdings in Thermo Fisher Scientific by 10,900.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 55,000 shares of the medical research company’s stock worth $27,839,000 after purchasing an additional 54,500 shares in the last quarter. Sonen Capital LLC lifted its position in Thermo Fisher Scientific by 3.8% during the third quarter. Sonen Capital LLC now owns 1,801 shares of the medical research company’s stock valued at $912,000 after buying an additional 66 shares during the period. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Thermo Fisher Scientific by 11.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 93,598 shares of the medical research company’s stock worth $47,377,000 after acquiring an additional 9,875 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.
Thermo Fisher Scientific Price Performance
Shares of TMO stock traded down $3.89 during mid-day trading on Monday, hitting $546.86. The company had a trading volume of 1,020,317 shares, compared to its average volume of 1,936,968. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39. The company has a market capitalization of $211.29 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.31 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $593.17. The stock’s 50 day moving average price is $533.33 and its 200-day moving average price is $513.55.
Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase plan on Tuesday, November 14th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on TMO shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Wells Fargo & Company raised Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 target price on the stock in a research note on Wednesday, October 25th. Robert W. Baird reiterated an “outperform” rating and issued a $670.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, December 14th. KeyCorp cut shares of Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 26th. Finally, Morgan Stanley cut their price target on shares of Thermo Fisher Scientific from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $596.00.
Insiders Place Their Bets
In other news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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