Thermo Fisher Scientific Inc. (NYSE:TMO – Get Free Report) VP Lisa Britt sold 2,831 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total value of $1,999,959.95. Following the completion of the sale, the vice president directly owned 11,560 shares of the company’s stock, valued at $8,166,562. This trade represents a 19.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Thermo Fisher Scientific Stock Down 1.7%
NYSE TMO traded down $12.40 during trading hours on Friday, hitting $696.78. The company’s stock had a trading volume of 2,089,111 shares, compared to its average volume of 2,264,945. The company has a market capitalization of $257.63 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $711.85. The company’s 50-day simple moving average is $653.50 and its two-hundred day simple moving average is $552.54.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $5.79 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.23 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on TMO shares. Guggenheim started coverage on shares of Thermo Fisher Scientific in a research report on Thursday, October 15th. They issued a “buy” rating for the company. Evercore set a $570.00 price target on Thermo Fisher Scientific in a research report on Monday, July 6th. Barclays lifted their price target on Thermo Fisher Scientific from $750.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Citigroup increased their price objective on Thermo Fisher Scientific from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Finally, HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $689.10.
Read Our Latest Stock Report on Thermo Fisher Scientific
Hedge Funds Weigh In On Thermo Fisher Scientific
A number of hedge funds have recently bought and sold shares of the business. Keeler Thomas Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 3rd quarter. Keeler Thomas Management LLC now owns 1,928 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 17 shares in the last quarter. Tsfg LLC grew its stake in Thermo Fisher Scientific by 20.4% during the 2nd quarter. Tsfg LLC now owns 112 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 19 shares in the last quarter. Welch Group LLC raised its position in shares of Thermo Fisher Scientific by 1.8% in the 3rd quarter. Welch Group LLC now owns 1,089 shares of the medical research company’s stock valued at $735,000 after purchasing an additional 19 shares in the last quarter. Renasant Bank boosted its stake in shares of Thermo Fisher Scientific by 1.0% during the 2nd quarter. Renasant Bank now owns 1,934 shares of the medical research company’s stock valued at $970,000 after buying an additional 20 shares during the last quarter. Finally, Strengthening Families & Communities LLC grew its position in shares of Thermo Fisher Scientific by 0.4% during the third quarter. Strengthening Families & Communities LLC now owns 4,721 shares of the medical research company’s stock worth $3,187,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.
Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.
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