Journey Advisory Group LLC Purchases New Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Journey Advisory Group LLC has acquired a new position in Thermo Fisher Scientific, purchasing 6,440 shares valued at approximately $2.6 million during the second quarter.
• Several brokerages have upgraded their ratings for Thermo Fisher Scientific, with Evercore ISI increasing the price target from $525 to $590 and JPMorgan raising it from $600 to $650.
• Insiders have sold a total of 30,066 shares of Thermo Fisher Scientific stock worth over $14 million in the last ninety days, indicating potential shifts in confidence among company executives.

Journey Advisory Group LLC bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,440 shares of the medical research company's stock, valued at approximately $2,611,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Canvas Wealth Advisors LLC grew its position in shares of Thermo Fisher Scientific by 170.2% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 1,394 shares of the medical research company's stock worth $565,000 after purchasing an additional 878 shares in the last quarter. Lyell Wealth Management LP grew its position in shares of Thermo Fisher Scientific by 4.3% during the 2nd quarter. Lyell Wealth Management LP now owns 32,114 shares of the medical research company's stock worth $13,021,000 after purchasing an additional 1,333 shares in the last quarter. Accretive Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1.3% during the 2nd quarter. Accretive Wealth Partners LLC now owns 3,248 shares of the medical research company's stock worth $1,317,000 after acquiring an additional 41 shares in the last quarter. Cidel Asset Management Inc. boosted its position in shares of Thermo Fisher Scientific by 14.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 1,560 shares of the medical research company's stock worth $633,000 after acquiring an additional 191 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 29.9% during the 2nd quarter. John G Ullman & Associates Inc. now owns 11,614 shares of the medical research company's stock worth $4,709,000 after acquiring an additional 2,671 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TMO. Evercore ISI increased their price objective on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Barclays increased their price objective on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $589.10.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph R. Holmes sold 385 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the sale, the chief accounting officer owned 2,319 shares of the company's stock, valued at $1,142,408.97. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,066 shares of company stock worth $14,182,963. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Up 0.4%

TMO opened at $539.05 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $495.74 and a 200-day moving average of $448.98. The stock has a market cap of $203.55 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.93 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the prior year, the company posted $5.37 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

About Thermo Fisher Scientific

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.