1,994 Thermo Fisher Scientific Inc. $TMO Shares Acquired by Choreo LLC

Key Points

• Choreo LLC increased its Thermo Fisher Scientific stake by 16.7%, acquiring 1,994 additional shares to hold 13,912 shares valued at approximately $9.4 million. Institutional investors collectively own 89.23% of TMO.
• Thermo Fisher reported quarterly earnings of $6.68 per share, exceeding estimates of $6.40, while revenue rose 9.1% year over year to $12.14 billion. Analysts maintain a “Moderate Buy” consensus, with an average price target of $689.10.
• Company insiders sold 76,199 shares worth approximately $45.9 million during the quarter, including sales by the CEO and an executive vice president under pre-arranged Rule 10b5-1 plans.

Choreo LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,912 shares of the medical research company's stock after acquiring an additional 1,994 shares during the quarter. Choreo LLC's holdings in Thermo Fisher Scientific were worth $9,391,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TMO. BlackRock Inc. purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $15,501,867,000. Bank of New York Mellon Corp bought a new position in shares of Thermo Fisher Scientific during the second quarter worth $1,974,561,000. Bank of America Corp DE purchased a new position in shares of Thermo Fisher Scientific in the second quarter valued at $1,952,930,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company's stock valued at $1,239,625,000 after buying an additional 22,827 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $1,122,351,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Down 1.7%

Shares of TMO opened at $696.78 on Friday. The company's 50-day moving average price is $654.87 and its 200 day moving average price is $552.94. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $711.85. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. The firm has a market cap of $257.63 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87.

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

Analysts Set New Price Targets

Several research analysts have commented on TMO shares. Royal Bank Of Canada raised their price objective on Thermo Fisher Scientific from $580.00 to $730.00 and gave the stock a "sector perform" rating in a report on Thursday, October 22nd. Scotiabank began coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 9th. They set an "outperform" rating for the company. Piper Sandler began coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 9th. They set an "overweight" rating for the company. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $775.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $689.10.

Insider Buying and Selling

In related news, EVP Michael D. Shafer sold 25,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total value of $15,300,000.00. Following the sale, the executive vice president directly owned 20,994 shares of the company's stock, valued at approximately $12,596,400. This represents a 54.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $629.27, for a total value of $6,292,700.00. Following the completion of the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $77,982,284.75. The trade was a 7.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,199 shares of company stock valued at $45,896,780. Company insiders own 0.33% of the company's stock.

About Thermo Fisher Scientific

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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