Sumitomo Mitsui Trust Group Inc. Has $582.15 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,119,017 shares of the medical research company’s stock after acquiring an additional 14,576 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Thermo Fisher Scientific were worth $582,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in Thermo Fisher Scientific during the third quarter worth about $42,409,000. Artemis Investment Management LLP boosted its position in shares of Thermo Fisher Scientific by 103.1% during the 3rd quarter. Artemis Investment Management LLP now owns 16,877 shares of the medical research company’s stock worth $10,440,000 after acquiring an additional 8,566 shares in the last quarter. Brookstone Capital Management raised its position in Thermo Fisher Scientific by 3.1% during the third quarter. Brookstone Capital Management now owns 2,558 shares of the medical research company’s stock valued at $1,582,000 after purchasing an additional 76 shares in the last quarter. First PREMIER Bank boosted its holdings in shares of Thermo Fisher Scientific by 344.4% in the 3rd quarter. First PREMIER Bank now owns 160 shares of the medical research company’s stock valued at $99,000 after purchasing an additional 124 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 14.5% during the 3rd quarter. Daymark Wealth Partners LLC now owns 709 shares of the medical research company’s stock worth $439,000 after buying an additional 90 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Down 1.8 %

Shares of NYSE TMO opened at $571.75 on Friday. The company’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. The firm has a market cap of $218.70 billion, a PE ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping 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, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TMO. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Barclays decreased their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. UBS Group raised their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bernstein Bank increased their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $658.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of the 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 $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 approximately $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. In the last 90 days, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is owned by corporate insiders.

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.