Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Choreo LLC

Choreo LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,744 shares of the medical research company’s stock after purchasing an additional 1,947 shares during the period. Choreo LLC’s holdings in Thermo Fisher Scientific were worth $7,139,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp boosted its position in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC boosted its position in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC increased its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $581.72 on Thursday. The business’s 50-day simple moving average is $544.31 and its 200-day simple moving average is $571.88. The firm has a market capitalization of $222.51 billion, a P/E ratio of 35.19, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,125 shares of company stock worth $16,207,439 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. Wells Fargo & Company upped their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

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.