Atria Investments Inc Decreases Holdings in Thermo Fisher Scientific Inc. $TMO

Atria Investments Inc trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,246 shares of the medical research company’s stock after selling 15,333 shares during the quarter. Atria Investments Inc’s holdings in Thermo Fisher Scientific were worth $16,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Highline Wealth Partners LLC lifted its position 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 last quarter. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the third quarter valued at about $31,000. Capital A Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 35.1% in the third 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 period. Finally, Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore restated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Argus lifted their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. TD Cowen cut their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the sale, the chief operating officer directly owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This trade represents a 32.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock worth $63,355,935 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.5%

Shares of TMO stock opened at $526.56 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a market cap of $197.83 billion, a P/E ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.93. The company has a 50 day simple moving average of $588.09 and a two-hundred day simple moving average of $544.22.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.10 EPS. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

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.