Keating Investment Counselors Inc. Lowers Stake in Thermo Fisher Scientific Inc. (TMO)

Keating Investment Counselors Inc. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,385 shares of the medical research company’s stock after selling 1,310 shares during the quarter. Thermo Fisher Scientific accounts for 2.0% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 19th largest holding. Keating Investment Counselors Inc.’s holdings in Thermo Fisher Scientific were worth $4,731,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $103,000. Horrell Capital Management Inc. purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $104,000. Edge Wealth Management LLC raised its position in Thermo Fisher Scientific by 8,077.8% in the 2nd quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock valued at $152,000 after buying an additional 727 shares during the last quarter. Atlantic Trust LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $154,000. Finally, First Command Bank purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $182,000. 85.64% of the stock is currently owned by institutional investors.

Shares of Thermo Fisher Scientific stock opened at $234.21 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $249.95. The firm has a market cap of $93.72 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66.

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

Thermo Fisher Scientific declared that its board has authorized a stock repurchase program on Friday, September 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. Morgan Stanley increased their price target on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 25th. Zacks Investment Research lowered Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Leerink Swann raised their target price on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $261.45.

In other news, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the completion of the sale, the chief executive officer now directly owns 320,122 shares of the company’s stock, valued at approximately $74,892,541.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 125,520 shares of the firm’s 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 disclosure for this sale can be found here. 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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