Thermo Fisher Scientific Inc. $TMO Shares Newly Bought by Associated Banc Corp

Key Points

• Associated Banc Corp bought 41,808 Thermo Fisher shares in the third quarter, valued at about $28.2 million; institutional investors and hedge funds own 89.23% of the stock.
• Thermo Fisher reported quarterly EPS of $6.68, beating the $6.40 consensus, while revenue of $12.14 billion exceeded estimates and rose 9.1% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating with a $689.10 average price target, while company insiders sold 76,199 shares worth about $45.9 million over the past 90 days.

Associated Banc Corp purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,808 shares of the medical research company's stock, valued at approximately $28,222,000.

Other large investors have also recently bought and sold shares of the company. Keeler Thomas Management LLC increased its stake in Thermo Fisher Scientific by 0.9% in the 3rd quarter. Keeler Thomas Management LLC now owns 1,928 shares of the medical research company's stock valued at $1,301,000 after buying an additional 17 shares during the period. Tsfg LLC lifted its position in Thermo Fisher Scientific by 20.4% in the 2nd quarter. Tsfg LLC now owns 112 shares of the medical research company's stock worth $56,000 after buying an additional 19 shares in the last quarter. Welch Group LLC lifted its position in Thermo Fisher Scientific by 1.8% in the 3rd quarter. Welch Group LLC now owns 1,089 shares of the medical research company's stock worth $735,000 after buying an additional 19 shares in the last quarter. Renasant Bank boosted its stake in shares of Thermo Fisher Scientific by 1.0% during the 2nd quarter. Renasant Bank now owns 1,934 shares of the medical research company's stock valued at $970,000 after buying an additional 20 shares during the period. Finally, Strengthening Families & Communities LLC boosted its stake in shares of Thermo Fisher Scientific by 0.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,721 shares of the medical research company's stock valued at $3,187,000 after buying an additional 21 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 25,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the transaction, the executive vice president owned 20,994 shares in the company, valued at $12,596,400. This trade represents a 54.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 2,831 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total transaction of $1,999,959.95. Following the completion of the transaction, the vice president directly owned 11,560 shares in the company, valued at approximately $8,166,562. This represents a 19.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 76,199 shares of company stock worth $45,896,780 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Up 2.3%

Thermo Fisher Scientific stock opened at $698.24 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. Thermo Fisher Scientific Inc. has a 1-year low of $435.27 and a 1-year high of $711.85. The firm's fifty day simple moving average is $657.33 and its 200-day simple moving average is $553.71. The company has a market capitalization of $258.71 billion, a P/E ratio of 36.83, a P/E/G ratio of 2.78 and a beta of 0.84.

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 during the quarter, compared to analysts' expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. Thermo Fisher Scientific's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.79 earnings per share. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $760.00 to $810.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Weiss Ratings raised Thermo Fisher Scientific from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wells Fargo & Company downgraded Thermo Fisher Scientific from an "overweight" rating to an "underweight" rating in a research note on Wednesday, September 9th. Stifel Nicolaus lifted their price target on Thermo Fisher Scientific from $650.00 to $775.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Finally, Barclays boosted their price target on Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $689.10.

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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