Thermo Fisher Scientific Inc. $TMO Shares Newly Purchased by Avestar Capital LLC

Key Points

• Avestar Capital initiated a Thermo Fisher Scientific position by purchasing 4,297 shares worth approximately $2.9 million. Institutional investors collectively own 89.23% of the company.
• Analysts remain broadly bullish, with Thermo Fisher receiving a consensus “Moderate Buy” rating and an average price target of $689.10; several firms recently raised their targets as high as $800.
• Thermo Fisher exceeded quarterly expectations, reporting $6.68 in adjusted EPS and $12.14 billion in revenue, with sales rising 9.1% year over year. Company executives and other insiders sold 76,199 shares valued at about $45.9 million during the latest quarter.

Avestar Capital LLC 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 disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,297 shares of the medical research company's stock, valued at approximately $2,901,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $15,501,867,000. Corient Private Wealth LP bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $382,547,000. Bank of New York Mellon Corp acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $1,974,561,000. Bank of America Corp DE bought a new position in Thermo Fisher Scientific in the 2nd quarter worth $1,952,930,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Thermo Fisher Scientific by 0.9% in the second 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 purchasing an additional 22,827 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other news, VP Lisa Britt sold 11,440 shares of the company's stock in a transaction 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 completion of the sale, the vice president owned 14,784 shares in the company, valued at $9,064,366.08. This represents a 43.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc 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 transaction, the chief executive officer directly owned 123,925 shares of the company's stock, valued at approximately $77,982,284.75. This represents a 7.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,199 shares of company stock valued at $45,896,780 over the last quarter. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TMO shares. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $723.00 to $756.00 and gave the company an "outperform" rating in a research note on Thursday, October 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, July 23rd. Citigroup increased their price target on shares of Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Argus lifted their price objective on Thermo Fisher Scientific from $560.00 to $780.00 and gave the company a "buy" rating in a report on Friday. Finally, Evercore set a $570.00 price objective on Thermo Fisher Scientific in a research note on Monday, July 6th. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $689.10.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $696.78 on Friday. The company has a market capitalization of $257.63 billion, a P/E ratio of 36.75, a P/E/G ratio of 2.89 and a beta of 0.87. 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 12 month low of $435.27 and a 12 month high of $711.85. The stock has a 50 day moving average of $654.87 and a 200-day moving average of $552.94.

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