Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Independence Bank of Kentucky

by · The Cerbat Gem

Independence Bank of Kentucky boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 16.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,162 shares of the medical research company’s stock after acquiring an additional 441 shares during the period. Independence Bank of Kentucky’s holdings in Thermo Fisher Scientific were worth $1,956,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC raised its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 0.4 %

Shares of NYSE TMO traded up $2.18 during midday trading on Friday, hitting $595.97. The company’s stock had a trading volume of 39,102 shares, compared to its average volume of 1,459,500. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The business’s fifty day simple moving average is $608.10 and its two-hundred day simple moving average is $583.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market capitalization of $227.66 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 3.84 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the firm earned $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TMO. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $653.72.

Get Our Latest Research Report on TMO

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s 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 $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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Profile

(Free Report)

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.

Further Reading

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