Sumitomo Mitsui Trust Group Inc. Buys 14,576 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,119,017 shares of the medical research company’s stock after purchasing an additional 14,576 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.29% of Thermo Fisher Scientific worth $582,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares during the period. FMR LLC grew its stake in shares of Thermo Fisher Scientific by 19.7% in the third 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. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Thermo Fisher Scientific during the 3rd quarter valued at $254,412,000. Lindsell Train Ltd acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth $211,858,000. Finally, Franklin Resources Inc. lifted 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 valued at $2,935,377,000 after buying an additional 262,062 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.8 %

NYSE:TMO opened at $571.75 on Friday. 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 market capitalization of $218.70 billion, a P/E ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. The stock’s fifty day simple moving average is $545.51 and its 200-day simple moving average is $571.95. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88.

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 the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TMO has been the subject of several recent research reports. UBS Group upped their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. TD Cowen lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered their price objective 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. Finally, Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Company 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.