Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,137 shares of the medical research company’s stock after acquiring an additional 159 shares during the period. Exchange Traded Concepts LLC’s holdings in Thermo Fisher Scientific were worth $1,322,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $705,636,000. Ameriprise Financial Inc. increased its holdings in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares during the period. Point72 Asset Management L.P. boosted its stake in Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Thermo Fisher Scientific by 31.9% in the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock valued at $565,316,000 after purchasing an additional 247,110 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $591.50 on Thursday. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a market capitalization of $225.95 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $607.90 and a two-hundred day moving average price of $583.81.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the prior year, the company earned $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Evercore ISI raised their price target on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective on the stock. Barclays raised their target price on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a report on Monday. They set a “buy” rating and a $680.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $656.16.

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.