Thermo Fisher Scientific Inc. $TMO Shares Purchased by Summitry LLC

Summitry LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,459 shares of the medical research company’s stock after buying an additional 2,941 shares during the period. Thermo Fisher Scientific accounts for 2.9% of Summitry LLC’s investment portfolio, making the stock its 11th biggest position. Summitry LLC’s holdings in Thermo Fisher Scientific were worth $68,610,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Financial Management Network Inc. raised its position in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Thermo Fisher Scientific by 8.8% during the third quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after purchasing an additional 19 shares during the last quarter. Elevation Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Hopwood Financial Services Inc. increased its stake in Thermo Fisher Scientific by 9.1% in the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock valued at $116,000 after purchasing an additional 20 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,426 shares of the medical research company’s stock worth $1,177,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Evercore reiterated an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Leerink Partners increased their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,996 shares of company stock worth $63,355,935 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $504.99 on Monday. The firm has a fifty day moving average of $585.45 and a two-hundred day moving average of $545.03. The firm has a market cap of $189.73 billion, a P/E ratio of 28.47, a P/E/G ratio of 2.91 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the company posted $6.10 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.