Edge Wealth Management LLC Invests $201,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Edge Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 325 shares of the medical research company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC raised its holdings 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 in the last quarter. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC raised its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $3.27 during trading on Tuesday, hitting $600.52. 1,290,555 shares of the company were exchanged, compared to its average volume of 1,466,922. The company has a market cap of $229.40 billion, a PE ratio of 37.33, a P/E/G ratio of 3.80 and a beta of 0.77. The stock has a 50 day moving average of $607.84 and a 200 day moving average of $583.62. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.15 earnings per share. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TMO. Barclays upped their price objective on Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research note on Tuesday. Raymond James increased their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TD Cowen raised their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $656.16.

About Thermo Fisher Scientific

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.