Verdence Capital Advisors LLC Buys New Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Verdence Capital Advisors acquired 19,919 shares of Thermo Fisher Scientific in the third quarter, valued at approximately $13.45 million. Institutional investors own 89.23% of the company’s outstanding shares.
• Thermo Fisher exceeded quarterly expectations, reporting $6.68 in earnings per share versus the $6.40 consensus estimate and $12.14 billion in revenue, up 9.1% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, although insider selling totaled 73,368 shares worth $43.9 million over the past 90 days.

Verdence Capital Advisors LLC bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,919 shares of the medical research company's stock, valued at approximately $13,446,000.

Other hedge funds have also added to or reduced their stakes in the company. Polaris Financial Partners bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth $32,000. Kilter Group LLC bought a new position in Thermo Fisher Scientific in the second quarter valued at about $25,000. Legacy Wealth Managment LLC ID lifted its holdings in Thermo Fisher Scientific by 78.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company's stock valued at $25,000 after acquiring an additional 22 shares during the period. Allied Private Wealth LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth about $26,000. Finally, Pingora Partners LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth about $30,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael D. Shafer sold 25,500 shares of Thermo Fisher Scientific stock in a transaction on 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 transaction, the executive vice president owned 20,994 shares in the company, valued at approximately $12,596,400. The trade was a 54.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,368 shares of company stock worth $43,896,820 over the last ninety days. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Up 1.6%

NYSE TMO opened at $684.92 on Tuesday. The stock's 50-day moving average price is $645.23 and its 200-day moving average price is $550.89. 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 Inc. has a 52 week low of $435.27 and a 52 week high of $705.78. The company has a market capitalization of $253.25 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.40 by $0.28. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The firm's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.79 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 25.23 earnings per share for the current year.

Analyst Ratings Changes

TMO has been the subject of several research reports. Wells Fargo & Company lowered shares of Thermo Fisher Scientific from an "overweight" rating to an "underweight" rating in a research report on Wednesday, September 9th. HSBC raised shares of Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Thermo Fisher Scientific from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Barclays upped their target price on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an "overweight" rating in a report on Thursday. Finally, CLSA started coverage on shares of Thermo Fisher Scientific in a research report on Thursday, September 3rd. They issued an "outperform" rating and a C$748.00 price target on the stock. Two research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $681.00.

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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