Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,040 shares of the medical research company’s stock after purchasing an additional 96 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,102,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

TMO has been the topic of a number of research reports. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Raymond James restated an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Down 1.3 %

TMO stock opened at $538.31 on Thursday. The company has a market cap of $205.90 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company’s 50-day moving average price is $548.02 and its 200 day moving average price is $571.52. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred 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 $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company’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 $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is owned by company insiders.

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.