AustralianSuper Pty Ltd Has $85.81 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

AustralianSuper Pty Ltd boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,163.7% in the third quarter, Holdings Channel reports. The firm owned 138,728 shares of the medical research company’s stock after purchasing an additional 127,750 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Thermo Fisher Scientific were worth $85,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Congress Asset Management Co. increased its position in shares of Thermo Fisher Scientific by 743.7% in the third quarter. Congress Asset Management Co. now owns 177,692 shares of the medical research company’s stock valued at $109,915,000 after acquiring an additional 156,631 shares during the last quarter. Palumbo Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 2.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 4,073 shares of the medical research company’s stock worth $2,520,000 after purchasing an additional 103 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Thermo Fisher Scientific by 52.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 291 shares of the medical research company’s stock valued at $180,000 after buying an additional 100 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in Thermo Fisher Scientific by 13.0% during the third quarter. Cornerstone Wealth Group LLC now owns 1,045 shares of the medical research company’s stock worth $646,000 after buying an additional 120 shares during the last quarter. Finally, Oak Harvest Investment Services raised its position in Thermo Fisher Scientific by 5.2% during the third quarter. Oak Harvest Investment Services now owns 5,791 shares of the medical research company’s stock worth $3,582,000 after acquiring an additional 287 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent analyst reports. Raymond James boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bernstein Bank upped 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, October 22nd. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Finally, Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded down $0.59 during mid-day trading on Thursday, reaching $550.03. The stock had a trading volume of 297,591 shares, compared to its average volume of 1,460,944. The stock has a 50-day simple moving average of $601.50 and a two-hundred day simple moving average of $583.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 12 month low of $433.15 and a 12 month high of $627.88. The stock has a market capitalization of $210.11 billion, a PE ratio of 34.51, a P/E/G ratio of 3.66 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the firm earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Insider Activity

In other news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade 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 is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,300 shares of company stock worth $6,831,268. Corporate insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.