Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Boosted by Smith Salley Wealth Management

Smith Salley Wealth Management boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the third quarter, Holdings Channel.com reports. The firm owned 42,717 shares of the medical research company’s stock after purchasing an additional 1,134 shares during the period. Thermo Fisher Scientific comprises 1.7% of Smith Salley Wealth Management’s holdings, making the stock its 13th largest holding. Smith Salley Wealth Management’s holdings in Thermo Fisher Scientific were worth $26,424,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BDF Gestion acquired a new position in Thermo Fisher Scientific in the second quarter worth approximately $6,368,000. Aviance Capital Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after purchasing an additional 2,251 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares in the last quarter. Advisors Capital Management LLC increased its position in Thermo Fisher Scientific by 5.8% during the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after buying an additional 6,089 shares during the last quarter. Finally, MV Capital Management Inc. raised its holdings in Thermo Fisher Scientific by 13.1% during the first quarter. MV Capital Management Inc. now owns 199 shares of the medical research company’s stock valued at $116,000 after buying an additional 23 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $554.38 on Friday. The firm has a market capitalization of $211.77 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $420.21 and a 12-month high of $627.88. The firm has a 50-day moving average price of $605.12 and a 200 day moving average price of $584.00.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the company earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on TMO shares. Sanford C. Bernstein lowered their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.