Wells Fargo & Company MN Boosts Holdings in Thermo Fisher Scientific Inc. (TMO)

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Wells Fargo & Company MN grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,213,226 shares of the medical research company’s stock after acquiring an additional 23,811 shares during the quarter. Wells Fargo & Company MN’s holdings in Thermo Fisher Scientific were worth $784,285,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TMO. FNY Investment Advisers LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $103,000. Horrell Capital Management Inc. bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $104,000. Edge Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 8,077.8% in the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after purchasing an additional 727 shares during the last quarter. Atlantic Trust LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $154,000. Finally, First Command Bank bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $182,000. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

TMO has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a report on Monday, October 1st. Barclays raised their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $233.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Citigroup raised their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Finally, Cleveland Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus target price of $261.45.

In related news, CEO Marc N. Casper sold 125,520 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.49% of the company’s stock.

NYSE:TMO opened at $238.23 on Wednesday. The firm has a market capitalization of $94.34 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.70 and a beta of 1.08. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.07. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, September 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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