Thermo Fisher Scientific Inc. $TMO Stock: MGO One Seven LLC Increases Stake

Key Points

• MGO One Seven LLC increased its Thermo Fisher Scientific stake by 26.3% in the third quarter, bringing its holdings to 7,745 shares valued at approximately $5.23 million. Institutional investors collectively own 89.23% of the company.
• Analysts maintain a “Moderate Buy” consensus on TMO, with an average price target of $689.10; several firms recently raised their targets, including TD Cowen to $810.
• Thermo Fisher exceeded quarterly expectations, reporting $6.68 in adjusted EPS and $12.14 billion in revenue, with sales up 9.1% year over year. However, insiders sold roughly $45.9 million of shares over the past 90 days.

MGO One Seven LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 7,745 shares of the medical research company's stock after buying an additional 1,615 shares during the quarter. MGO One Seven LLC's holdings in Thermo Fisher Scientific were worth $5,229,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TMO. Americana Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.7% in the third quarter. Americana Partners LLC now owns 81,349 shares of the medical research company's stock worth $54,914,000 after buying an additional 566 shares in the last quarter. Aprio Wealth Management LLC grew its position in Thermo Fisher Scientific by 22.0% during the third quarter. Aprio Wealth Management LLC now owns 2,192 shares of the medical research company's stock worth $1,480,000 after buying an additional 396 shares in the last quarter. Avestar Capital LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter worth about $2,901,000. Modera Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 12.3% during the 3rd quarter. Modera Wealth Management LLC now owns 4,584 shares of the medical research company's stock valued at $3,094,000 after acquiring an additional 502 shares during the last quarter. Finally, Greenup Street Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Barclays raised their target price 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. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $723.00 to $756.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Royal Bank Of Canada increased their price target on shares of Thermo Fisher Scientific from $580.00 to $730.00 and gave the stock a "sector perform" rating in a report on Thursday, October 22nd. TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Finally, Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an "outperform" rating for the company. Two research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $689.10.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Michael Shafer sold 25,500 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the sale, the executive vice president owned 20,994 shares of the company's stock, valued at approximately $12,596,400. The trade was a 54.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa 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 value of $1,999,959.95. Following the sale, the vice president owned 11,560 shares in the company, valued at $8,166,562. This represents a 19.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 76,199 shares of company stock worth $45,896,780. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $682.43 on Tuesday. The company's fifty day simple moving average is $655.94 and its two-hundred day simple moving average is $553.32. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $711.85. The firm has a market cap of $252.33 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.71.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, topping the consensus estimate of $6.40 by $0.28. The business had revenue of $12.14 billion during the quarter, compared to analysts' expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The business's revenue 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 analysts expect that Thermo Fisher Scientific Inc. will post 25.26 EPS for the current year.

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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