Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Eastern Bank

Eastern Bank grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,228 shares of the medical research company’s stock after acquiring an additional 5,410 shares during the period. Eastern Bank’s holdings in Thermo Fisher Scientific were worth $19,935,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its stake in shares of Thermo Fisher Scientific by 1.1% in the 3rd quarter. Signaturefd LLC now owns 8,571 shares of the medical research company’s stock worth $5,302,000 after purchasing an additional 96 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 89,268 shares of the medical research company’s stock worth $55,218,000 after purchasing an additional 4,879 shares during the period. Harbor Advisory Corp MA lifted its stake in Thermo Fisher Scientific by 0.3% in the third quarter. Harbor Advisory Corp MA now owns 10,362 shares of the medical research company’s stock valued at $6,410,000 after acquiring an additional 30 shares during the last quarter. Graybill Wealth Management LTD. lifted its stake in Thermo Fisher Scientific by 1.8% in the third quarter. Graybill Wealth Management LTD. now owns 12,506 shares of the medical research company’s stock valued at $7,736,000 after acquiring an additional 223 shares during the last quarter. Finally, Ledyard National Bank lifted its stake in shares of Thermo Fisher Scientific by 4.4% in the third quarter. Ledyard National Bank now owns 3,165 shares of the medical research company’s stock worth $1,958,000 after buying an additional 132 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Barclays upped their target price on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on 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 $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.3 %

Shares of NYSE TMO traded down $7.48 during mid-day trading on Tuesday, hitting $587.89. 665,501 shares of the stock traded hands, compared to its average volume of 1,460,175. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a market cap of $224.57 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.85 and a beta of 0.77. The stock has a fifty day moving average price of $607.91 and a 200-day moving average price of $584.40.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.15 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Company 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.