Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,738 shares of the medical research company’s stock after buying an additional 1,150 shares during the quarter. Thermo Fisher Scientific comprises about 0.2% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 28th biggest position. Sumitomo Life Insurance Co.’s holdings in Thermo Fisher Scientific were worth $11,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after purchasing an additional 117,353 shares during the period. Capital World Investors raised its holdings in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after buying an additional 156,675 shares in the last quarter. Capital Research Global Investors grew its stake in Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after buying an additional 123,523 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded down $5.82 during trading on Wednesday, reaching $594.70. The stock had a trading volume of 264,409 shares, compared to its average volume of 1,460,584. The firm’s 50 day moving average price is $607.81 and its two-hundred day moving average price is $583.76. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The stock has a market cap of $227.01 billion, a PE ratio of 38.52, a P/E/G ratio of 3.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the firm posted $5.15 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on TMO shares. Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday. They issued a “buy” rating and a $680.00 target price for the company. Barclays boosted their price target on Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $656.16.

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.