CNB Bank Grows Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

CNB Bank grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,495 shares of the medical research company’s stock after purchasing an additional 172 shares during the quarter. CNB Bank’s holdings in Thermo Fisher Scientific were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signature Resources Capital Management LLC increased its stake in Thermo Fisher Scientific by 318.2% in the 2nd 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 during the second quarter worth about $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $33,000. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 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 transaction of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,860,920.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TMO shares. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. 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 company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $656.16.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $601.71 on Friday. The stock has a 50 day moving average price of $607.99 and a 200 day moving average price of $584.17. The firm has a market capitalization of $229.68 billion, a P/E ratio of 38.60, a P/E/G ratio of 3.86 and a beta of 0.77. 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.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating 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 firm 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 firm earned $5.15 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share 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.