Summitry LLC Grows Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Summitry LLC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,459 shares of the medical research company’s stock after acquiring an additional 2,941 shares during the quarter. Thermo Fisher Scientific makes up 2.9% of Summitry LLC’s investment portfolio, making the stock its 11th biggest holding. Summitry LLC’s holdings in Thermo Fisher Scientific were worth $68,610,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth about $31,000. Capital A Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Down 0.9%

TMO opened at $504.99 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a market capitalization of $189.73 billion, a P/E ratio of 28.47, a P/E/G ratio of 2.91 and a beta of 0.93. The business has a 50 day simple moving average of $585.45 and a 200-day simple moving average of $545.03.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.10 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 108,996 shares of company stock valued at $63,355,935. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TMO. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Argus increased their price target on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.