Principal Financial Group Inc. Has $771.88 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Principal Financial Group Inc. lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 22.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,247,838 shares of the medical research company’s stock after purchasing an additional 225,568 shares during the period. Principal Financial Group Inc. owned 0.33% of Thermo Fisher Scientific worth $771,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Montecito Bank & Trust grew its holdings in Thermo Fisher Scientific by 3.8% during the 3rd quarter. Montecito Bank & Trust now owns 3,612 shares of the medical research company’s stock worth $2,234,000 after acquiring an additional 131 shares during the period. Jackson Square Capital LLC grew its holdings in Thermo Fisher Scientific by 70.6% during the 3rd quarter. Jackson Square Capital LLC now owns 10,310 shares of the medical research company’s stock worth $6,377,000 after acquiring an additional 4,268 shares during the period. Graypoint LLC grew its holdings in Thermo Fisher Scientific by 1.4% during the 3rd quarter. Graypoint LLC now owns 2,992 shares of the medical research company’s stock worth $1,851,000 after acquiring an additional 41 shares during the period. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth $1,104,000. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 5.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,587 shares of the medical research company’s stock valued at $2,219,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein lowered their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.2 %

TMO stock opened at $559.68 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $596.33 and a two-hundred day moving average price of $583.80. The company has a market cap of $214.08 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.67 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $437.26 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the company posted $5.69 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,150 shares of company stock worth $10,094,925. 0.34% of the stock is owned by company insiders.

About Thermo Fisher Scientific

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.