WealthBridge Investment Counsel Inc. Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

WealthBridge Investment Counsel Inc. raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,117 shares of the medical research company’s stock after acquiring an additional 225 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.4% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 22nd biggest holding. WealthBridge Investment Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $6,877,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Beaumont Financial Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC raised its stake in Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares in the last quarter. Lafayette Investments Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after acquiring an additional 18 shares in the last quarter. Finally, Drive Wealth Management LLC raised its position in Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TMO. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Raymond James lifted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Finally, Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $593.79 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $226.83 billion, a P/E ratio of 36.84, a P/E/G ratio of 3.84 and a beta of 0.77. The business’s 50 day moving average price is $608.66 and its 200-day moving average price is $583.10. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88.

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

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the 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 owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last 90 days. Company insiders own 0.34% of the company’s stock.

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.