Journey Advisory Group LLC Sells 5,455 Shares of Thermo Fisher Scientific Inc. $TMO

by · The Markets Daily

Journey Advisory Group LLC lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 84.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 985 shares of the medical research company’s stock after selling 5,455 shares during the quarter. Journey Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $478,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares during the period. Capital A Wealth Management LLC grew its stake 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 in the last quarter. Cloud Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth $31,000. Howard Hughes Medical Institute purchased a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares in the company, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares in the company, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 108,996 shares of company stock valued at $63,355,935. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TMO shares. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. TD Cowen cut their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

View Our Latest Report on Thermo Fisher Scientific

Thermo Fisher Scientific Trading Down 0.8%

Shares of TMO opened at $510.96 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a 50-day moving average of $579.25 and a 200 day moving average of $545.98. The firm has a market capitalization of $191.97 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its 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 net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the firm earned $6.10 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Company Profile

(Free Report)

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.

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