Seven Eight Capital LP Acquires 45,700 Shares of Thermo Fisher Scientific Inc. (TMO)

Seven Eight Capital LP boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 241.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,600 shares of the medical research company’s stock after purchasing an additional 45,700 shares during the period. Thermo Fisher Scientific makes up approximately 1.0% of Seven Eight Capital LP’s holdings, making the stock its 10th biggest position. Seven Eight Capital LP’s holdings in Thermo Fisher Scientific were worth $15,768,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pitcairn Co. lifted its stake in Thermo Fisher Scientific by 1.3% during the second quarter. Pitcairn Co. now owns 16,871 shares of the medical research company’s stock valued at $3,495,000 after purchasing an additional 215 shares during the last quarter. Nvwm LLC lifted its stake in Thermo Fisher Scientific by 6.1% during the second quarter. Nvwm LLC now owns 4,231 shares of the medical research company’s stock valued at $877,000 after purchasing an additional 242 shares during the last quarter. Tiedemann Advisors LLC lifted its stake in Thermo Fisher Scientific by 19.4% during the second quarter. Tiedemann Advisors LLC now owns 1,518 shares of the medical research company’s stock valued at $315,000 after purchasing an additional 247 shares during the last quarter. Chesapeake Wealth Management lifted its stake in Thermo Fisher Scientific by 6.0% during the second quarter. Chesapeake Wealth Management now owns 4,393 shares of the medical research company’s stock valued at $910,000 after purchasing an additional 249 shares during the last quarter. Finally, Private Capital Advisors Inc. lifted its stake in Thermo Fisher Scientific by 0.7% during the third quarter. Private Capital Advisors Inc. now owns 38,990 shares of the medical research company’s stock valued at $9,517,000 after purchasing an additional 252 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

TMO has been the subject of several research analyst reports. Barclays upped their price target on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, September 24th. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target for the company in a research report on Monday, October 1st. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target for the company. Finally, ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Thermo Fisher Scientific currently has an average rating of “Buy” and an average target price of $259.91.

Shares of NYSE:TMO traded down $6.90 during mid-day trading on Thursday, hitting $227.75. The stock had a trading volume of 80,723 shares, compared to its average volume of 1,399,923. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58. The company has a market cap of $98.31 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. Thermo Fisher Scientific Inc. has a 12-month low of $181.51 and a 12-month high of $249.95.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.12. The firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.90 billion. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 EPS. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 10.98 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback 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 generally an indication that the company’s board believes its shares are undervalued.

In other Thermo Fisher Scientific news, insider Patrick M. Durbin sold 20,550 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total value of $4,806,028.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,070 shares of company stock worth $47,569,729. Company insiders own 0.49% of the company’s stock.

Thermo Fisher Scientific Profile

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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