2,305 Thermo Fisher Scientific Inc. $TMO Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,536.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,455 shares of the medical research company’s stock after buying an additional 2,305 shares during the period. Provenance Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Bank OZK acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $1,096,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $456,000. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $15,501,867,000. German American Bancorp Inc. purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $4,920,000. Finally, Parallax Volatility Advisers L.P. purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $814,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $698.24 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.81 and a quick ratio of 1.41. The business has a 50 day simple moving average of $657.33 and a 200-day simple moving average of $553.71. The firm has a market capitalization of $258.71 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.84. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $711.85.

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, 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 during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the firm earned $5.79 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

TMO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $720.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 25th. CLSA initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 target price on the stock. Piper Sandler assumed coverage on shares of Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an “overweight” rating for the company. Argus increased their target price 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. Finally, Citigroup raised their price target 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. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given 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, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $689.10.

Insider Buying and Selling

In other news, EVP Michael D. Shafer sold 25,500 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the transaction, the executive vice president owned 20,994 shares in the company, valued at $12,596,400. The trade was a 54.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc N. Casper sold 275 shares of the business’s 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 transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $77,707,171.25. The trade was a 0.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,199 shares of company stock valued at $45,896,780 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.