Coronation Fund Managers Ltd. Sells 10,885 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Coronation Fund Managers Ltd. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,186 shares of the medical research company’s stock after selling 10,885 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Thermo Fisher Scientific were worth $11,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after buying an additional 124,996 shares during the period. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Thermo Fisher Scientific by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMO. TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research note on Friday, January 10th. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group upped their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $571.44 on Monday. The company has a market capitalization of $218.58 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $547.34 and a 200 day moving average of $572.26.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.