Summit Global Investments Purchases 914 Shares of Thermo Fisher Scientific Inc. $TMO

Summit Global Investments grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 72.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,178 shares of the medical research company’s stock after buying an additional 914 shares during the period. Summit Global Investments’ holdings in Thermo Fisher Scientific were worth $1,471,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tsfg LLC grew its holdings in shares of Thermo Fisher Scientific by 20.4% during the 2nd quarter. Tsfg LLC now owns 112 shares of the medical research company’s stock worth $56,000 after purchasing an additional 19 shares during the period. Renasant Bank lifted its position in Thermo Fisher Scientific by 1.0% in the second quarter. Renasant Bank now owns 1,934 shares of the medical research company’s stock valued at $970,000 after buying an additional 20 shares during the last quarter. Strengthening Families & Communities LLC boosted its stake in Thermo Fisher Scientific by 0.4% during the third quarter. Strengthening Families & Communities LLC now owns 4,721 shares of the medical research company’s stock worth $3,187,000 after buying an additional 21 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of Thermo Fisher Scientific by 5.4% during the first quarter. TCI Wealth Advisors Inc. now owns 431 shares of the medical research company’s stock valued at $212,000 after acquiring an additional 22 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in shares of Thermo Fisher Scientific by 78.6% during the first quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $629.27, for a total value of $6,292,700.00. Following the sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at $77,982,284.75. This trade represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Joseph R. Holmes sold 420 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $584.81, for a total transaction of $245,620.20. Following the completion of the transaction, the chief accounting officer owned 2,966 shares of the company’s stock, valued at $1,734,546.46. This represents a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 76,199 shares of company stock worth $45,896,780. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TMO. 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 report on Thursday, October 22nd. Guggenheim began coverage on Thermo Fisher Scientific in a research report on Thursday, October 15th. They issued a “buy” rating on the stock. BMO Capital Markets cut Thermo Fisher Scientific to a “market perform” rating in a research note on Wednesday, September 9th. Jefferies Financial Group restated a “buy” rating and set a $630.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 23rd. Finally, Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $723.00 to $756.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $689.10.

Thermo Fisher Scientific Stock Down 0.0%

Thermo Fisher Scientific stock opened at $696.78 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $435.27 and a twelve month high of $711.85. The stock’s fifty day simple moving average is $654.87 and its 200-day simple moving average is $552.94. 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 firm has a market capitalization of $257.63 billion, a P/E ratio of 36.75, a P/E/G ratio of 2.84 and a beta of 0.84.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the firm earned $5.79 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 25.26 earnings per share for the current fiscal year.

Thermo Fisher Scientific 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.