Wedmont Private Capital Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wedmont Private Capital grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,338 shares of the medical research company’s stock after acquiring an additional 291 shares during the period. Wedmont Private Capital’s holdings in Thermo Fisher Scientific were worth $1,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC grew its position 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 worth $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% in 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 during the period. Headlands Technologies LLC acquired a new stake in Thermo Fisher Scientific during the first quarter valued at $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,084 shares of company stock worth $14,094,292. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stephens started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, TD Cowen boosted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $653.72.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $593.79 on Friday. The company’s 50-day moving average is $608.66 and its two-hundred day moving average is $583.10. The firm has a market capitalization of $226.83 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 3.84 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 1-year low of $415.60 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data 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. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the business posted $5.15 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Profile

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.