Wesbanco Bank Inc. Reduces Position in Thermo Fisher Scientific Inc. $TMO

Wesbanco Bank Inc. lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,639 shares of the medical research company’s stock after selling 1,115 shares during the quarter. Wesbanco Bank Inc.’s holdings in Thermo Fisher Scientific were worth $24,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $31,000. Capital A Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new stake in Thermo Fisher Scientific during the second quarter valued at $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Evercore reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. Finally, Citigroup increased their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. This trade represents a 32.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 114,292 shares of company stock valued at $66,518,754. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $546.77 on Tuesday. The company has a 50-day simple moving average of $589.99 and a 200 day simple moving average of $543.92. The company has a market capitalization of $205.43 billion, a P/E ratio of 30.82, a PEG ratio of 3.13 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.10 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.