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

Sawgrass Asset Management LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,040 shares of the medical research company’s stock after acquiring an additional 96 shares during the period. Sawgrass Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,102,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp increased 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 period. FMR LLC lifted its position 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 purchasing an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Franklin Resources Inc. lifted its position 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 worth $2,935,377,000 after purchasing an additional 262,062 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after purchasing an additional 65,586 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Scotiabank raised their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Barclays cut 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 research report on Wednesday, October 23rd. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research report on Friday, January 10th. Finally, Stifel Nicolaus lowered their price objective on shares of 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. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

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

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was 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 approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

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.