Verdence Capital Advisors LLC Buys 19,919 Shares of Thermo Fisher Scientific Inc. $TMO

Verdence Capital Advisors LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 19,919 shares of the medical research company’s stock, valued at approximately $13,446,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Thermo Fisher Scientific during the 2nd quarter valued at approximately $15,501,867,000. Corient Private Wealth LP bought a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $382,547,000. Bank of New York Mellon Corp purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $1,974,561,000. Bank of America Corp DE purchased a new stake in Thermo Fisher Scientific during the second quarter valued at $1,952,930,000. Finally, Legal & General Group Plc bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $1,122,351,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $684.92 on Tuesday. The firm’s 50 day simple moving average is $645.23 and its 200-day simple moving average is $550.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.41 and a current ratio of 1.81. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $705.78. The firm has a market cap of $253.25 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.95 billion. During the same quarter in the previous year, the business earned $5.79 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 25.23 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 25,500 shares of the 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 of the company’s stock, valued at approximately $12,596,400. This represents a 54.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total value of $7,014,092.80. Following the transaction, the vice president owned 14,784 shares in the company, valued at approximately $9,064,366.08. This represents a 43.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 73,368 shares of company stock valued at $43,896,820. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Jefferies Financial Group restated a “buy” rating and issued a $630.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 23rd. DZ Bank downgraded Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research report on Friday. Citigroup upped their price objective on Thermo Fisher Scientific from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. UBS Group reiterated a “buy” rating and issued a $800.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $681.00.

About Thermo Fisher Scientific

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.