Allspring Global Investments Holdings LLC Has $89.02 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Allspring Global Investments Holdings LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,910 shares of the medical research company’s stock after purchasing an additional 4,999 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Thermo Fisher Scientific were worth $89,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC increased its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific during the second quarter worth approximately $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Evercore ISI upped their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Barclays raised their target price on Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

Thermo Fisher Scientific Price Performance

TMO stock opened at $601.71 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88. The company has a market capitalization of $229.85 billion, a P/E ratio of 37.33, a PEG ratio of 3.85 and a beta of 0.77. The company has a fifty day moving average price of $607.99 and a 200-day moving average price of $584.23.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $10.50 billion. During the same period in the previous year, the business earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s 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 directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. 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 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate 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.