M&G Plc Reduces Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

M&G Plc lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,927 shares of the medical research company’s stock after selling 10,947 shares during the quarter. M&G Plc’s holdings in Thermo Fisher Scientific were worth $77,330,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BDF Gestion acquired a new position in Thermo Fisher Scientific in the second quarter valued at $6,368,000. Nisa Investment Advisors LLC grew its stake in Thermo Fisher Scientific by 6.2% in the third 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 grew its stake in Thermo Fisher Scientific by 1.9% in 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 in the last quarter. Seven Eight Capital LP acquired a new position in Thermo Fisher Scientific in the first quarter worth about $1,161,000. Finally, ORG Partners LLC grew its stake in Thermo Fisher Scientific by 216.6% in the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock worth $890,000 after purchasing an additional 1,122 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of research reports. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Wells Fargo & Company decreased their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $559.68 on Thursday. The stock has a market cap of $214.08 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $596.33 and its 200-day moving average is $583.80. Thermo Fisher Scientific Inc. has a 1-year low of $437.26 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the firm earned $5.69 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 5,850 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total value of $3,263,656.50. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,611,804.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,150 shares of company stock valued at $10,094,925 over the last ninety days. 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.