Rafferty Asset Management LLC Has $22.57 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Rafferty Asset Management LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,381 shares of the medical research company's stock after acquiring an additional 4,636 shares during the quarter. Rafferty Asset Management LLC's holdings in Thermo Fisher Scientific were worth $22,568,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Advisory Group LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth about $253,000. Border to Coast Pensions Partnership Ltd boosted its holdings in shares of Thermo Fisher Scientific by 12.3% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 93,913 shares of the medical research company's stock worth $48,824,000 after purchasing an additional 10,305 shares during the period. Intact Investment Management Inc. grew its position in Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after purchasing an additional 660 shares in the last quarter. Purkiss Capital Advisors LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $1,121,000. Finally, Avanza Fonder AB acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $15,562,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TMO. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. StockNews.com downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Scotiabank lowered their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird decreased their price target on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $607.43.

Thermo Fisher Scientific Stock Performance

TMO stock traded down $11.57 during trading on Wednesday, reaching $402.18. 1,267,924 shares of the stock were exchanged, compared to its average volume of 1,843,724. The stock has a 50 day simple moving average of $449.99 and a 200-day simple moving average of $508.22. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $151.82 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a twelve month low of $390.50 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Thermo Fisher Scientific's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $5.11 earnings per share. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,075 shares of company stock valued at $7,305,942 over the last quarter. Corporate insiders own 0.33% 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.