Atwood & Palmer Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 6.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,434 shares of the medical research company’s stock after acquiring an additional 3,688 shares during the period. Thermo Fisher Scientific comprises approximately 2.1% of Atwood & Palmer Inc.’s investment portfolio, making the stock its 14th largest position. Atwood & Palmer Inc.’s holdings in Thermo Fisher Scientific were worth $39,446,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently bought and sold shares of the stock. Bank OZK acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $1,096,000. Ausdal Financial Partners Inc. acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth $456,000. BlackRock Inc. purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth $15,501,867,000. German American Bancorp Inc. acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $4,920,000. Finally, Parallax Volatility Advisers L.P. purchased a new position in Thermo Fisher Scientific in the second quarter valued at $814,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Down 1.6%
Thermo Fisher Scientific stock traded down $10.43 during mid-day trading on Thursday, hitting $651.63. The company had a trading volume of 2,585,462 shares, compared to its average volume of 2,253,558. The company has a quick ratio of 1.18, a current ratio of 1.55 and a debt-to-equity ratio of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $694.33. The business has a fifty day moving average of $624.23 and a 200 day moving average of $539.29. The stock has a market cap of $240.94 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.75 and a beta of 0.87.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on TMO shares. Scotiabank began coverage on Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an “outperform” rating on the stock. BMO Capital Markets cut Thermo Fisher Scientific to a “market perform” rating in a research note on Wednesday, September 9th. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Jefferies Financial Group reiterated a “buy” rating and set a $630.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 23rd. Finally, Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $635.55.
Check Out Our Latest Stock Analysis on Thermo Fisher Scientific
Insider Transactions at Thermo Fisher Scientific
In other news, CAO Joseph Holmes sold 420 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $584.81, for a total value of $245,620.20. Following the completion of the sale, the chief accounting officer directly owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. The trade was a 12.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Shafer sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total value of $15,300,000.00. Following the completion of the sale, the executive vice president owned 20,994 shares of the company’s stock, valued at approximately $12,596,400. This represents a 54.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 73,768 shares of company stock worth $44,122,820 over the last three months. 0.33% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Company 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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