Trust Point Inc. Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Trust Point Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,097 shares of the medical research company’s stock after acquiring an additional 86 shares during the quarter. Trust Point Inc.’s holdings in Thermo Fisher Scientific were worth $1,297,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TMO. Signature Resources Capital Management LLC grew its holdings in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $0.17 during mid-day trading on Friday, hitting $599.42. The company’s stock had a trading volume of 265,691 shares, compared to its average volume of 1,462,864. The firm has a 50-day moving average price of $607.88 and a 200 day moving average price of $583.92. The stock has a market capitalization of $228.98 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 3.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $5.15 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TMO. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, September 20th. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $656.16.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.