Forsta AP Fonden Purchases 8,500 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Forsta AP Fonden raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 94,070 shares of the medical research company’s stock after buying an additional 8,500 shares during the period. Forsta AP Fonden’s holdings in Thermo Fisher Scientific were worth $58,189,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC boosted its position in 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 buying an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC lifted 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 acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $3.00 during midday trading on Friday, reaching $554.38. 1,090,373 shares of the company’s stock traded hands, compared to its average volume of 1,467,407. The company has a market cap of $211.77 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. 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 one year low of $420.21 and a one year high of $627.88. The stock has a 50 day moving average of $605.12 and a 200 day moving average of $584.04.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. During the same period in the prior year, the company posted $5.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TMO. Stifel Nicolaus cut their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

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.