Axxcess Wealth Management LLC Purchases 2,374 Shares of Thermo Fisher Scientific Inc. $TMO

Axxcess Wealth Management LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,191 shares of the medical research company’s stock after acquiring an additional 2,374 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $13,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. TIAA Trust National Association lifted its holdings in Thermo Fisher Scientific by 10.5% during the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after buying an additional 11,817 shares during the period. Lombard Odier Asset Management Switzerland SA increased its position in Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares during the period. Cornerstone Investment Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $41,393,000. Weaver Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $506,000. Finally, VELA Investment Management LLC raised its stake in Thermo Fisher Scientific by 65.5% during the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after buying an additional 3,683 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 108,996 shares of company stock valued at $63,355,935. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent analyst reports. Evercore reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Barclays lifted their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $500.79 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a 50 day moving average price of $582.95 and a two-hundred day moving average price of $545.56. The firm has a market capitalization of $188.15 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.91 and a beta of 0.93.

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback plan 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

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.