Summit Financial Strategies Inc. Acquires New Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summit Financial Strategies Inc. purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 355 shares of the medical research company’s stock, valued at approximately $220,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its position in Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after buying an additional 3,142 shares during the period. BDF Gestion acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $6,368,000. Aviance Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 2,251 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in Thermo Fisher Scientific by 5.8% in the 1st quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock valued at $64,613,000 after buying an additional 6,089 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Up 2.3 %

Shares of TMO stock traded up $13.70 during mid-day trading on Thursday, hitting $605.25. The company’s stock had a trading volume of 559,225 shares, compared to its average volume of 1,461,920. The company’s fifty day simple moving average is $607.90 and its 200-day simple moving average is $583.81. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The company has a market cap of $231.21 billion, a PE ratio of 36.69, a P/E/G ratio of 3.86 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the company posted $5.15 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on TMO. 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. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday. They set a “buy” rating and a $680.00 target price for the company. Finally, Robert W. Baird boosted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $656.16.

Thermo Fisher Scientific Profile

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.