Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,213 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 55,588 shares of the medical research company’s stock after purchasing an additional 1,213 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Thermo Fisher Scientific were worth $28,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. FMR LLC grew its holdings 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 valued at $4,872,761,000 after buying an additional 1,294,453 shares during the period. Geode Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after acquiring an additional 127,564 shares in the last quarter. Franklin Resources Inc. increased 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 worth $2,935,377,000 after acquiring an additional 262,062 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.6% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Raymond James restated an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday. Robert W. Baird cut their target price 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. Bernstein Bank lifted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $571.75 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The stock has a market cap of $218.70 billion, a PE ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. The firm has a 50-day moving average of $545.51 and a 200-day moving average of $571.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Thermo Fisher Scientific

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.