2,574 Thermo Fisher Scientific Inc. $TMO Shares Sold by Ashton Thomas Securities LLC

Key Points

• Ashton Thomas Securities LLC cut its Thermo Fisher Scientific position by 62.4% in the third quarter, selling 2,574 shares and retaining 1,550 shares valued at approximately $1.05 million.
• Thermo Fisher reported quarterly earnings of $6.68 per share and revenue of $12.14 billion, beating analyst estimates while revenue increased 9.1% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $684.55, although recent insider selling totaled 73,368 shares worth about $43.9 million.

Ashton Thomas Securities LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 62.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,550 shares of the medical research company's stock after selling 2,574 shares during the period. Ashton Thomas Securities LLC's holdings in Thermo Fisher Scientific were worth $1,049,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cahaba Wealth Management Inc. bought a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $228,000. Oppenheimer & Co. Inc. lifted its stake in shares of Thermo Fisher Scientific by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 28,260 shares of the medical research company's stock valued at $19,077,000 after buying an additional 322 shares in the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Center for Financial Planning Inc. now owns 4,072 shares of the medical research company's stock valued at $2,749,000 after buying an additional 105 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Thermo Fisher Scientific by 21.2% during the third quarter. Park Avenue Securities LLC now owns 14,485 shares of the medical research company's stock valued at $9,778,000 after buying an additional 2,530 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $13,446,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $704.41 on Thursday. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $710.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.81 and a quick ratio of 1.41. The firm has a market cap of $260.45 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.75 and a beta of 0.87. The company has a fifty day moving average price of $651.61 and a 200-day moving average price of $552.09.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results 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 company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the company posted $5.79 earnings per share. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 25.23 EPS for the current fiscal year.

Insider Activity

In other news, CAO Joseph R. Holmes sold 420 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $584.81, for a total value of $245,620.20. Following the completion of the transaction, the chief accounting officer directly owned 2,966 shares of the company's stock, valued at $1,734,546.46. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Lisa P. Britt sold 11,440 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total value of $7,014,092.80. Following the sale, the vice president directly owned 14,784 shares of the company's stock, valued at $9,064,366.08. The trade was a 43.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 73,368 shares of company stock worth $43,896,820. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 9th. They set an "overweight" rating for the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $630.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on Thermo Fisher Scientific from $580.00 to $730.00 and gave the company a "sector perform" rating in a research note on Thursday, October 22nd. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $650.00 to $730.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Finally, Stifel Nicolaus increased their price objective on 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, seventeen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus price target of $684.55.

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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