Thermo Fisher Scientific Inc. (NYSE:TMO) Position Raised by Elk River Wealth Management LLC

Elk River Wealth Management LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,897 shares of the medical research company’s stock after acquiring an additional 100 shares during the period. Thermo Fisher Scientific makes up 1.1% of Elk River Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Elk River Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $6,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in shares of Thermo Fisher Scientific by 252.4% during the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares during the period. Leo Wealth LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $1,117,000. BDF Gestion bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $6,368,000. Aviance Capital Partners LLC raised its holdings in Thermo Fisher Scientific by 20.9% during the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock worth $7,581,000 after purchasing an additional 2,251 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after purchasing an additional 1,480 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TMO has been the subject of several research analyst reports. 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 report on Monday, September 16th. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $653.72.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.6 %

TMO stock traded up $3.73 during mid-day trading on Monday, hitting $600.65. The stock had a trading volume of 131,704 shares, compared to its average volume of 1,463,294. The stock has a market capitalization of $229.45 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 3.80 and a beta of 0.77. 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 1-year low of $415.60 and a 1-year high of $627.88. The company has a fifty day moving average of $607.73 and a 200 day moving average of $583.46.

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, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.15 earnings per share. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

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.