Thermo Fisher Scientific (NYSE:TMO) VP Lisa Britt Sells 2,831 Shares of Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) VP Lisa Britt sold 2,831 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total transaction of $1,999,959.95. Following the completion of the transaction, the vice president owned 11,560 shares of the company’s stock, valued at $8,166,562. This represents a 19.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Thermo Fisher Scientific Stock Down 1.7%

Shares of NYSE TMO opened at $696.78 on Friday. The stock has a market capitalization of $257.63 billion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $711.85. The firm has a 50-day moving average price of $654.87 and a 200 day moving average price of $552.94. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.71.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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 net margin of 14.94% and a return on equity of 17.33%. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the company posted $5.79 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank OZK acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $1,096,000. Ausdal Financial Partners Inc. bought a new position in Thermo Fisher Scientific during the second quarter worth $456,000. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $15,501,867,000. German American Bancorp Inc. bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $4,920,000. Finally, Parallax Volatility Advisers L.P. bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $814,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TMO shares. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 1st. Piper Sandler started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 9th. They issued an “overweight” rating on the stock. Barclays raised their target price on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Argus lifted their target price on shares of Thermo Fisher Scientific from $560.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday. Finally, CLSA began coverage on shares of Thermo Fisher Scientific in a report on Thursday, September 3rd. They issued an “outperform” rating and a C$748.00 price target on the stock. Two 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 issued a Sell rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $689.10.

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.