Wesbanco Bank Inc. Lowers Stock Position in Thermo Fisher Scientific Inc. $TMO

Wesbanco Bank Inc. trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,639 shares of the medical research company’s stock after selling 1,115 shares during the period. Wesbanco Bank Inc.’s holdings in Thermo Fisher Scientific were worth $24,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TMO. Midwest Trust Co lifted its holdings in Thermo Fisher Scientific by 4.1% in the third quarter. Midwest Trust Co now owns 89,198 shares of the medical research company’s stock valued at $43,263,000 after acquiring an additional 3,493 shares during the period. Rockland Trust Co. lifted its stake in shares of Thermo Fisher Scientific by 17.4% in the third quarter. Rockland Trust Co. now owns 63,992 shares of the medical research company’s stock valued at $31,037,000 after purchasing an additional 9,467 shares during the period. Wealthfront Advisers LLC boosted its holdings in Thermo Fisher Scientific by 45.1% during the third quarter. Wealthfront Advisers LLC now owns 22,385 shares of the medical research company’s stock worth $10,857,000 after buying an additional 6,954 shares in the last quarter. Hopwood Financial Services Inc. grew its position in Thermo Fisher Scientific by 9.1% during the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after buying an additional 20 shares during the period. Finally, Centerpoint Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 1.9% during the 3rd quarter. Centerpoint Advisors LLC now owns 2,015 shares of the medical research company’s stock valued at $977,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the sale, the vice president directly owned 13,087 shares in the company, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 114,292 shares of company stock valued at $66,518,754 in the last quarter. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $546.77 on Tuesday. The company has a market cap of $205.43 billion, a P/E ratio of 30.82, a P/E/G ratio of 3.13 and a beta of 0.93. The firm’s 50 day moving average is $589.99 and its two-hundred day moving average is $543.92. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $6.10 EPS. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TMO shares. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Leerink Partners lifted their price target on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.