Raymond James & Associates Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Raymond James & Associates increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 586,785 shares of the medical research company’s stock after acquiring an additional 46,744 shares during the period. Raymond James & Associates owned approximately 0.15% of Thermo Fisher Scientific worth $362,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Brookstone Capital Management boosted its holdings in Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares during the last quarter. BDF Gestion bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at $6,368,000. Aviance Capital Partners LLC grew its holdings in Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock worth $7,581,000 after acquiring an additional 2,251 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of 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 purchasing an additional 1,480 shares in the last quarter. Finally, Advisors Capital Management LLC grew its stake in Thermo Fisher Scientific by 5.8% in 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 in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

TMO stock traded up $2.46 on Friday, hitting $601.71. 1,081,607 shares of the company’s stock traded hands, compared to its average volume of 1,466,903. The stock has a market cap of $229.85 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 3.86 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The stock has a fifty day moving average of $607.99 and a 200-day moving average of $584.09. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.15 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.