Summit Financial Strategies Inc. Invests $220,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summit Financial Strategies Inc. purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 355 shares of the medical research company’s stock, valued at approximately $220,000.

Several other large investors have also recently modified their holdings of the stock. Signature Resources Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% during the 2nd 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 purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $13.70 during midday trading on Thursday, hitting $605.25. 559,225 shares of the company were exchanged, compared to its average volume of 1,461,920. The firm has a market capitalization of $231.21 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The business has a fifty day simple moving average of $607.90 and a two-hundred day simple moving average of $583.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 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 analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $5.15 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Wall Street Analyst Weigh In

TMO has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Raymond James increased their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $656.16.

Insider Buying and Selling at Thermo Fisher Scientific

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

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.