Mirae Asset Global Investments Co. Ltd. Purchases 8,722 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,387 shares of the medical research company’s stock after acquiring an additional 8,722 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $28,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Osprey Private Wealth LLC raised its stake in Thermo Fisher Scientific by 0.7% during the fourth quarter. Osprey Private Wealth LLC now owns 9,380 shares of the medical research company’s stock worth $4,880,000 after acquiring an additional 65 shares in the last quarter. Sargent Investment Group LLC increased its position in Thermo Fisher Scientific by 7.1% during the 4th quarter. Sargent Investment Group LLC now owns 711 shares of the medical research company’s stock worth $395,000 after purchasing an additional 47 shares in the last quarter. Old North State Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 14.0% in the 4th quarter. Old North State Wealth Management LLC now owns 528 shares of the medical research company’s stock valued at $275,000 after purchasing an additional 65 shares during the last quarter. Ninety One SA PTY Ltd grew its stake in shares of Thermo Fisher Scientific by 4.6% during the fourth quarter. Ninety One SA PTY Ltd now owns 14,922 shares of the medical research company’s stock worth $7,763,000 after buying an additional 653 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in shares of Thermo Fisher Scientific by 2.5% in the 4th quarter. E. Ohman J or Asset Management AB now owns 84,863 shares of the medical research company’s stock valued at $44,148,000 after acquiring an additional 2,087 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TMO. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. UBS Group boosted their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Bank of America cut their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Scotiabank increased their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $581.72 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $544.31 and its 200-day moving average price is $571.88. The firm has a market capitalization of $222.51 billion, a P/E ratio of 35.19, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,125 shares of company stock valued at $16,207,439. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.