Fortitude Family Office LLC Buys 35 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Fortitude Family Office LLC boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,427 shares of the medical research company’s stock after purchasing an additional 35 shares during the quarter. Fortitude Family Office LLC’s holdings in Thermo Fisher Scientific were worth $883,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC grew its position in shares of 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 valued at $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the period. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 0.3 %

Thermo Fisher Scientific stock opened at $552.68 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $420.21 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a 50 day moving average price of $604.03 and a two-hundred day moving average price of $583.92. The firm has a market cap of $211.12 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 3.66 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company posted $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Bernstein Bank lifted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Barclays reduced their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.