Veritas Asset Management LLP Has $699.28 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Veritas Asset Management LLP lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,130,476 shares of the medical research company’s stock after selling 18,050 shares during the period. Thermo Fisher Scientific makes up approximately 5.2% of Veritas Asset Management LLP’s investment portfolio, making the stock its 9th biggest holding. Veritas Asset Management LLP owned approximately 0.30% of Thermo Fisher Scientific worth $699,279,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BDF Gestion acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $6,368,000. Nisa Investment Advisors LLC lifted its stake in Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Thermo Fisher Scientific by 1.9% during the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 5.8% in the 1st quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock valued at $64,613,000 after purchasing an additional 6,089 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at $1,161,000. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TMO shares. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Raymond James lifted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 2.1 %

NYSE TMO traded up $11.60 on Friday, reaching $557.92. The company had a trading volume of 1,459,815 shares, compared to its average volume of 1,349,276. The firm has a market capitalization of $213.13 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $437.26 and a 1-year high of $627.88. The company’s fifty day moving average is $599.39 and its 200-day moving average is $583.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released 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 net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the firm earned $5.69 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

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