Key Points
- Thermo Fisher Scientific VP Lisa Britt sold 2,831 shares for approximately $2.0 million, reducing her position by 19.67% to 11,560 shares.
- The company reported quarterly results above expectations, with EPS of $6.68 and revenue of $12.14 billion; revenue increased 9.1% year over year.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $689.10, while institutional investors own 89.23% of the stock.
Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) VP Lisa Britt sold 2,831 shares of the company's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $706.45, for a total transaction of $1,999,959.95. Following the completion of the sale, the vice president owned 11,560 shares in the company, valued at $8,166,562. This represents a 19.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Thermo Fisher Scientific Trading Down 1.7%
NYSE TMO opened at $696.78 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 business has a fifty day simple moving average of $654.87 and a 200 day simple moving average of $552.94. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $711.85. The firm has a market capitalization of $257.63 billion, a P/E ratio of 36.75, a PEG ratio of 2.89 and a beta of 0.87.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, October 21st. The medical research company reported $6.68 EPS for the quarter, topping the consensus estimate of $6.40 by $0.28. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm had revenue of $12.14 billion for the quarter, compared to analysts' expectations of $11.95 billion. During the same quarter last year, the firm earned $5.79 EPS. The company's quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 25.24 EPS for the current fiscal year.
Institutional Trading of Thermo Fisher Scientific
Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth $15,501,867,000. Corient Private Wealth LP bought a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $382,547,000. Bank of New York Mellon Corp purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $1,974,561,000. Bank of America Corp DE purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $1,952,930,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company's stock valued at $1,239,625,000 after purchasing an additional 22,827 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on TMO. Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $650.00 to $775.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $720.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 25th. Evercore set a $570.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. UBS Group restated a "buy" rating and set a $800.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, October 22nd. Finally, Argus lifted their price objective on shares of Thermo Fisher Scientific from $560.00 to $780.00 and gave the stock a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $689.10.
Check Out Our Latest Report on Thermo Fisher Scientific
Thermo Fisher Scientific Company Profile
(
Get Free Report)
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.
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