Shell Asset Management Co. Sells 20,942 Shares of Thermo Fisher Scientific Inc. $TMO

Shell Asset Management Co. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 93.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,530 shares of the medical research company’s stock after selling 20,942 shares during the quarter. Shell Asset Management Co.’s holdings in Thermo Fisher Scientific were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of TMO. Highline Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Capital A Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the period. Cloud Capital Management LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at about $31,000. Howard Hughes Medical Institute purchased a new stake in Thermo Fisher Scientific during the second quarter worth about $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Barclays raised their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. UBS Group reiterated a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen lowered their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $504.99 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The stock’s 50-day simple moving average is $584.19 and its 200 day simple moving average is $545.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a market capitalization of $189.73 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $6.10 earnings per share. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,996 shares of company stock valued at $63,355,935 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.