Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Covea Finance

by · The Cerbat Gem

Covea Finance increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,611 shares of the medical research company’s stock after buying an additional 15,500 shares during the quarter. Thermo Fisher Scientific accounts for approximately 2.8% of Covea Finance’s investment portfolio, making the stock its 6th largest position. Covea Finance’s holdings in Thermo Fisher Scientific were worth $64,709,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TMO. Capital World Investors increased 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 worth $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at $705,636,000. Ameriprise Financial Inc. grew its holdings in Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Thermo Fisher Scientific by 31.9% during the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock worth $565,316,000 after acquiring an additional 247,110 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This represents 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 related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Price Performance

TMO traded up $3.13 during trading on Friday, hitting $596.92. 2,138,162 shares of the company traded hands, compared to its average volume of 1,470,010. The company has a market cap of $227.85 billion, a PE ratio of 38.29, a P/E/G ratio of 3.84 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $607.73 and its two-hundred day simple moving average is $583.34.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Evercore ISI upped their target price on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $653.72.

Check Out Our Latest Stock Report on Thermo Fisher Scientific

Thermo Fisher Scientific Company Profile

(Free Report)

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.

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