4,297 Shares in Thermo Fisher Scientific Inc. $TMO Acquired by Avestar Capital LLC

Avestar Capital LLC purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,297 shares of the medical research company’s stock, valued at approximately $2,901,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Modera Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 12.3% during the 3rd quarter. Modera Wealth Management LLC now owns 4,584 shares of the medical research company’s stock valued at $3,094,000 after acquiring an additional 502 shares during the last quarter. Greenup Street Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $204,000. State of Wyoming bought a new position in Thermo Fisher Scientific during the third quarter valued at approximately $167,000. Peak Financial Advisors LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at approximately $249,000. Finally, Petros Family Wealth LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $210,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $760.00 to $810.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Argus upped their target price on shares of Thermo Fisher Scientific from $560.00 to $780.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler started coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 9th. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $720.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, September 25th. Finally, CLSA assumed coverage on Thermo Fisher Scientific in a research report on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $689.10.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 25,500 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total value of $15,300,000.00. Following the completion of the transaction, the executive vice president directly owned 20,994 shares in the company, valued at approximately $12,596,400. The trade was a 54.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc N. Casper sold 275 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $627.05, for a total transaction of $172,438.75. Following the sale, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $77,707,171.25. The trade was a 0.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,199 shares of company stock worth $45,896,780 over the last quarter. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of 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. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $711.85. The company has a market capitalization of $257.63 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.89 and a beta of 0.87. The firm’s 50-day moving average is $654.87 and its 200 day moving average is $552.94.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.79 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 25.24 EPS for the current year.

About Thermo Fisher Scientific

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.