Novare Capital Management LLC Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Novare Capital Management LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,025 shares of the medical research company’s stock after buying an additional 105 shares during the period. Thermo Fisher Scientific comprises 1.2% of Novare Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Novare Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $14,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific in the first quarter worth $32,000. Finally, Bank & Trust Co purchased a new stake in Thermo Fisher Scientific during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TMO. TD Cowen raised their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Finally, Raymond James raised their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Stock Up 0.8 %

Thermo Fisher Scientific stock traded up $4.90 during trading hours on Monday, hitting $601.82. 208,380 shares of the stock traded hands, compared to its average volume of 1,463,645. The firm’s 50-day moving average price is $607.73 and its two-hundred day moving average price is $583.46. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a market cap of $229.90 billion, a PE ratio of 37.09, a PEG ratio of 3.80 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88.

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, beating 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 business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm posted $5.15 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current 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.