Thermo Fisher Scientific Inc. $TMO Stock Holdings Lifted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,536.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,455 shares of the medical research company’s stock after purchasing an additional 2,305 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. BlackRock Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $15,501,867,000. Corient Private Wealth LP purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $382,547,000. Bank of New York Mellon Corp purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $1,974,561,000. Bank of America Corp DE acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $1,952,930,000. Finally, Legal & General Group Plc acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $1,122,351,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 420 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the sale, the chief accounting officer owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the completion of the transaction, the vice president directly owned 14,784 shares of the company’s stock, valued at approximately $9,064,366.08. The trade was a 43.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 76,199 shares of company stock valued at $45,896,780. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TMO. BMO Capital Markets lowered shares of Thermo Fisher Scientific to a “market perform” rating in a report on Wednesday, September 9th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Argus lifted their price target on shares of Thermo Fisher Scientific from $560.00 to $780.00 and gave the company a “buy” rating in a research report on Friday. Barclays boosted their price target on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Finally, TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $760.00 to $810.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $689.10.

Thermo Fisher Scientific Trading Up 2.3%

Shares of NYSE TMO opened at $698.24 on Wednesday. Thermo Fisher Scientific Inc. has a twelve month low of $435.27 and a twelve month high of $711.85. 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 stock has a fifty day simple moving average of $657.33 and a 200-day simple moving average of $553.71. The stock has a market capitalization of $258.71 billion, a PE ratio of 36.83, a PEG ratio of 2.78 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.40 by $0.28. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the previous year, the business earned $5.79 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 25.26 earnings per share 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.