164,557 Thermo Fisher Scientific Inc. $TMO Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Thermo Fisher Scientific position by 3,023.3% in the third quarter, acquiring 164,557 additional shares and ending with a $114.8 million stake.
• Institutional investors own 89.23% of TMO, while company insiders have sold 76,199 shares worth approximately $45.9 million over the past 90 days.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $689.10 target price. Thermo Fisher recently exceeded quarterly earnings and revenue estimates, reporting $6.68 EPS and $12.14 billion in revenue.

International Assets Investment Management LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3,023.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 170,000 shares of the medical research company's stock after purchasing an additional 164,557 shares during the period. Thermo Fisher Scientific accounts for about 0.9% of International Assets Investment Management LLC's investment portfolio, making the stock its 19th biggest position. International Assets Investment Management LLC's holdings in Thermo Fisher Scientific were worth $114,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank OZK purchased a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $1,096,000. Ausdal Financial Partners Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $456,000. BlackRock Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $15,501,867,000. German American Bancorp Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $4,920,000. Finally, Parallax Volatility Advisers L.P. purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $814,000. Institutional investors own 89.23% of the company's stock.

Insider Activity

In other news, VP Lisa P. Britt sold 2,831 shares of the company's stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $706.45, for a total transaction of $1,999,959.95. Following the transaction, the vice president directly owned 11,560 shares of the company's stock, valued at approximately $8,166,562. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 420 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $584.81, for a total value of $245,620.20. Following the sale, the chief accounting officer owned 2,966 shares of the company's stock, valued at approximately $1,734,546.46. This represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,199 shares of company stock valued at $45,896,780 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TMO has been the topic of several research reports. Guggenheim began coverage on shares of Thermo Fisher Scientific in a report on Thursday, October 15th. They set a "buy" rating on the stock. Piper Sandler initiated coverage on Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an "overweight" rating for the company. Argus upped their target price on Thermo Fisher Scientific from $560.00 to $780.00 and gave the stock a "buy" rating in a report on Friday. CLSA initiated coverage on Thermo Fisher Scientific in a research report on Thursday, September 3rd. They set an "outperform" rating and a C$748.00 target price on the stock. Finally, HSBC upgraded Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $689.10.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $696.78 on Friday. The firm has a market cap of $257.63 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.89 and a beta of 0.87. The firm has a 50-day simple moving average of $654.87 and a two-hundred day simple moving average of $552.94. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $711.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.41 and a current ratio of 1.81.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.40 by $0.28. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.79 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 25.24 EPS for the current fiscal year.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.

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