Thermo Fisher Scientific Inc. $TMO Stock Position Boosted by WestEnd Advisors LLC

Key Points

• WestEnd Advisors increased its Thermo Fisher Scientific position by 5.3% in the third quarter to 74,543 shares valued at approximately $50.3 million. Institutional investors collectively own 89.23% of TMO.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $681. Recent targets range as high as $810, including upgrades from TD Cowen and Barclays.
• Thermo Fisher reported quarterly EPS of $6.68, exceeding expectations, while revenue rose 9.1% year over year to $12.14 billion. Shares opened at $694.49, near their 52-week high, although insiders sold $43.9 million of stock over the past 90 days.

WestEnd Advisors LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 74,543 shares of the medical research company's stock after purchasing an additional 3,759 shares during the quarter. Thermo Fisher Scientific comprises 1.1% of WestEnd Advisors LLC's holdings, making the stock its 22nd biggest position. WestEnd Advisors LLC's holdings in Thermo Fisher Scientific were worth $50,322,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TMO. William Mack & Associates Inc. bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $38,000. Victory Financial Group LLC increased its holdings in Thermo Fisher Scientific by 37.8% during the 3rd quarter. Victory Financial Group LLC now owns 766 shares of the medical research company's stock worth $517,000 after purchasing an additional 210 shares in the last quarter. Great Lakes Retirement Inc. increased its holdings in Thermo Fisher Scientific by 6.0% during the 3rd quarter. Great Lakes Retirement Inc. now owns 4,539 shares of the medical research company's stock worth $3,066,000 after purchasing an additional 258 shares in the last quarter. Generali Asset Management SPA SGR raised its stake in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 20,259 shares of the medical research company's stock valued at $13,676,000 after purchasing an additional 1,809 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of Thermo Fisher Scientific by 9.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 219,346 shares of the medical research company's stock valued at $148,070,000 after purchasing an additional 19,813 shares during the period. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TMO shares. TD Cowen upped their price objective on Thermo Fisher Scientific from $760.00 to $810.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $720.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 25th. Piper Sandler started coverage on shares of Thermo Fisher Scientific in a report on Wednesday, September 9th. They issued an "overweight" rating on the stock. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $723.00 to $756.00 and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $681.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa Britt sold 11,440 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 14,784 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph Holmes sold 420 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were 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 in the company, valued at $1,734,546.46. The trade was a 12.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 73,368 shares of company stock worth $43,896,820. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Up 1.4%

Shares of TMO opened at $694.49 on Wednesday. The company's fifty day simple moving average is $649.32 and its 200 day simple moving average is $551.60. The company has a market cap of $256.79 billion, a price-to-earnings ratio of 36.63 and a beta of 0.87. Thermo Fisher Scientific Inc. has a 1-year low of $435.27 and a 1-year high of $705.78.

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 EPS for the quarter, topping analysts' consensus estimates of $6.40 by $0.28. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the previous year, the business posted $5.79 EPS. The company's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 25.23 earnings per share for the current year.

Thermo Fisher Scientific 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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