Prio Wealth Limited Partnership Has $52.46 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Prio Wealth Limited Partnership decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 84,811 shares of the medical research company’s stock after selling 8,256 shares during the period. Thermo Fisher Scientific makes up approximately 1.5% of Prio Wealth Limited Partnership’s portfolio, making the stock its 17th largest position. Prio Wealth Limited Partnership’s holdings in Thermo Fisher Scientific were worth $52,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Thermo Fisher Scientific by 3.3% in the 1st quarter. International Assets Investment Management LLC now owns 1,964 shares of the medical research company’s stock valued at $1,134,000 after buying an additional 62 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $138,000. Strategic Planning Group LLC boosted its holdings in Thermo Fisher Scientific by 15.1% in the 1st quarter. Strategic Planning Group LLC now owns 4,707 shares of the medical research company’s stock valued at $2,736,000 after purchasing an additional 617 shares during the period. Austin Private Wealth LLC boosted its holdings in Thermo Fisher Scientific by 8.9% in the 1st quarter. Austin Private Wealth LLC now owns 712 shares of the medical research company’s stock valued at $410,000 after purchasing an additional 58 shares during the period. Finally, Salvus Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 65.2% in the 1st quarter. Salvus Wealth Management LLC now owns 1,006 shares of the medical research company’s stock valued at $585,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.3 %

Shares of NYSE:TMO traded down $7.55 during trading on Monday, hitting $594.16. 166,711 shares of the company’s stock were exchanged, compared to its average volume of 1,460,498. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The firm has a 50-day moving average price of $607.99 and a two-hundred day moving average price of $584.23. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market cap of $226.97 billion, a P/E ratio of 37.33, a PEG ratio of 3.85 and a beta of 0.77.

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. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.15 earnings per share. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction 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 in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. Stephens began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Bank of America raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Barclays raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $656.16.

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.