Invesco LLC Has $6.60 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Invesco LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the third quarter, Holdings Channel reports. The firm owned 10,666 shares of the medical research company’s stock after selling 133 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.6% of Invesco LLC’s investment portfolio, making the stock its 7th biggest position. Invesco LLC’s holdings in Thermo Fisher Scientific were worth $6,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Beaumont Financial Advisors LLC raised its position in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after purchasing an additional 17 shares in the last quarter. Cedar Wealth Management LLC raised its position in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares in the last quarter. Lafayette Investments Inc. raised its position in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares in the last quarter. IFG Advisors LLC raised its position in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TMO shares. Bernstein Bank raised their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Sanford C. Bernstein cut their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Stephens started coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 2.1 %

Shares of TMO stock traded up $11.60 during trading hours on Friday, hitting $557.92. 1,459,815 shares of the company’s stock traded hands, compared to its average volume of 1,349,276. The stock’s fifty day simple moving average is $599.39 and its two-hundred day simple moving average is $583.31. Thermo Fisher Scientific Inc. has a 12-month low of $437.26 and a 12-month high of $627.88. The stock has a market cap of $213.13 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.61 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the business earned $5.69 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,300 shares of company stock valued at $6,831,268. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Profile

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.