Thermo Fisher Scientific Inc. $TMO Stock: United Asset Strategies Inc. Reduces Position

United Asset Strategies Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,452 shares of the medical research company’s stock after selling 965 shares during the period. Thermo Fisher Scientific comprises 1.4% of United Asset Strategies Inc.’s portfolio, making the stock its 16th largest holding. United Asset Strategies Inc.’s holdings in Thermo Fisher Scientific were worth $20,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bank OZK purchased a new position in Thermo Fisher Scientific during the second quarter worth approximately $1,096,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $456,000. BlackRock Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $15,501,867,000. German American Bancorp Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $4,920,000. Finally, Parallax Volatility Advisers L.P. acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $814,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research analyst reports. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 1st. Citigroup raised their price objective on Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $723.00 to $756.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Stifel Nicolaus lifted their price objective on Thermo Fisher Scientific from $650.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Piper Sandler assumed coverage on Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $684.55.

Insider Activity

In related news, CEO Marc Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $629.27, for a total transaction of $6,292,700.00. Following the sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at $77,982,284.75. The trade was a 7.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa Britt sold 11,440 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the completion of the transaction, the vice president owned 14,784 shares in the company, valued at $9,064,366.08. This represents a 43.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,368 shares of company stock valued at $43,896,820 over the last ninety days. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $708.84 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. The company has a market cap of $262.09 billion, a PE ratio of 28.49, a P/E/G ratio of 2.87 and a beta of 0.87. The company’s fifty day simple moving average is $653.50 and its 200-day simple moving average is $552.54. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $711.85.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, topping analysts’ consensus estimates of $6.40 by $0.28. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.79 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.23 EPS for the current year.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.