Avestar Capital LLC Acquires 1,277 Shares of Thermo Fisher Scientific Inc. $TMO

Avestar Capital LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,823 shares of the medical research company’s stock after buying an additional 1,277 shares during the quarter. Avestar Capital LLC’s holdings in Thermo Fisher Scientific were worth $2,825,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the period. Capital A Wealth Management LLC increased its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Thermo Fisher Scientific in the third quarter worth about $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 108,996 shares of company stock valued at $63,355,935. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $514.03 on Thursday. 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 Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The stock’s 50-day simple moving average is $581.74 and its 200-day simple moving average is $545.34. The company has a market capitalization of $193.12 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.89 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the previous year, the firm earned $6.10 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

TMO has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Argus raised their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, TD Cowen decreased their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific 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.