Wedmont Private Capital increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 74.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,817 shares of the medical research company’s stock after purchasing an additional 1,202 shares during the period. Wedmont Private Capital’s holdings in Thermo Fisher Scientific were worth $1,837,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in TMO. BlackRock Inc. acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at $15,501,867,000. State Street Corp increased its holdings in shares of Thermo Fisher Scientific by 1.4% in the 4th quarter. State Street Corp now owns 16,613,761 shares of the medical research company’s stock worth $9,633,991,000 after acquiring an additional 229,630 shares during the period. Corient Private Wealth LP bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $382,547,000. Bank of New York Mellon Corp acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $1,974,561,000. Finally, Bank of America Corp DE bought a new position in Thermo Fisher Scientific in the 2nd quarter worth about $1,952,930,000. 89.23% of the stock is owned by institutional investors and hedge funds.
Thermo Fisher Scientific Stock Up 1.0%
Shares of TMO stock opened at $658.23 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $694.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55. The business’s fifty day moving average is $627.39 and its 200-day moving average is $541.36. The stock has a market cap of $243.38 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87.
Insider Buying and Selling
In related news, CEO Marc Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $629.27, for a total value of $6,292,700.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at $77,982,284.75. The trade was a 7.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa Britt sold 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the sale, the vice president owned 14,784 shares of the company’s stock, valued at $9,064,366.08. The trade was a 43.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 73,768 shares of company stock worth $44,122,820. 0.33% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $650.00 price target on Thermo Fisher Scientific in a report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. BMO Capital Markets lowered Thermo Fisher Scientific to a “market perform” rating in a research report on Wednesday, September 9th. CLSA initiated coverage on Thermo Fisher Scientific in a report on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 price target on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Thermo Fisher Scientific in a research note on Friday, June 26th. They set a “market perform” rating and a $520.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.86.
Check Out Our Latest Stock Analysis on TMO
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc is a global provider of laboratory products, analytical instruments, reagents, consumables, software and services. Its offerings support research, drug discovery and development, clinical diagnostics, biotechnology and pharmaceutical manufacturing, as well as environmental, industrial and other applied markets.
The company’s portfolio includes mass spectrometers, genetic analysis and sequencing systems, electron microscopes, chromatography equipment, laboratory plastics, cell culture products, antibodies, protein and molecular biology reagents, and diagnostic testing solutions.
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