Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Eastern Bank

Eastern Bank lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,228 shares of the medical research company’s stock after buying an additional 5,410 shares during the period. Eastern Bank’s holdings in Thermo Fisher Scientific were worth $19,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brookstone Capital Management grew its holdings in shares of Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares in the last quarter. BDF Gestion purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $6,368,000. Aviance Capital Partners LLC raised its position in Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock worth $7,581,000 after buying an additional 2,251 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after buying an additional 1,480 shares during the last quarter. Finally, Advisors Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 5.8% during the 1st quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after purchasing an additional 6,089 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 1.3 %

Shares of NYSE:TMO traded down $7.48 during trading hours on Tuesday, hitting $587.89. 665,501 shares of the company’s stock traded hands, compared to its average volume of 1,460,175. The business has a fifty day moving average price of $607.91 and a 200-day moving average price of $584.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The firm has a market capitalization of $224.57 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the company earned $5.15 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $656.16.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock worth $14,094,292. 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.