MBE Wealth Management LLC Has $791,000 Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

MBE Wealth Management LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,278 shares of the medical research company’s stock after buying an additional 32 shares during the period. MBE Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $791,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Thermo Fisher Scientific by 3.3% during the 1st quarter. International Assets Investment Management LLC now owns 1,964 shares of the medical research company’s stock worth $1,134,000 after purchasing an additional 62 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $138,000. Strategic Planning Group LLC grew its holdings in shares of Thermo Fisher Scientific by 15.1% in the first quarter. Strategic Planning Group LLC now owns 4,707 shares of the medical research company’s stock valued at $2,736,000 after acquiring an additional 617 shares in the last quarter. Austin Private Wealth LLC grew its holdings in shares of Thermo Fisher Scientific by 8.9% in the first quarter. Austin Private Wealth LLC now owns 712 shares of the medical research company’s stock valued at $410,000 after acquiring an additional 58 shares in the last quarter. Finally, Salvus Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 65.2% in the first quarter. Salvus Wealth Management LLC now owns 1,006 shares of the medical research company’s stock valued at $585,000 after acquiring an additional 397 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $7.35 during trading hours on Monday, reaching $594.36. The company had a trading volume of 222,084 shares, compared to its average volume of 1,460,718. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The firm has a market cap of $227.05 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 3.85 and a beta of 0.77. The firm’s 50 day moving average price is $607.99 and its 200-day moving average price is $584.23.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the firm posted $5.15 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on 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 owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI upped their price objective on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. TD Cowen upped their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America upped their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $656.16.

Thermo Fisher Scientific Company 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.