Sound Stewardship LLC Acquires New Shares in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sound Stewardship LLC purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the third quarter, HoldingsChannel reports. The firm purchased 346 shares of the medical research company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BDF Gestion purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $6,368,000. Lord Abbett & CO. LLC raised its holdings in Thermo Fisher Scientific by 1.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after acquiring an additional 1,480 shares during the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 5.8% during the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after purchasing an additional 6,089 shares during the last quarter. MV Capital Management Inc. increased its stake in Thermo Fisher Scientific by 13.1% in the first quarter. MV Capital Management Inc. now owns 199 shares of the medical research company’s stock valued at $116,000 after purchasing an additional 23 shares during the last quarter. Finally, American National Bank & Trust Co. VA acquired a new stake in Thermo Fisher Scientific in the 1st quarter worth about $7,306,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Finally, Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $557.75 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market cap of $213.06 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $420.21 and a 1 year high of $627.88. The firm’s 50-day simple moving average is $605.12 and its 200-day simple moving average is $584.07.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the company posted $5.69 EPS. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.