Cyndeo Wealth Partners LLC Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cyndeo Wealth Partners LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,262 shares of the medical research company’s stock after purchasing an additional 1,586 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $3,874,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Beaumont Financial Advisors LLC raised its stake in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. raised its stake in shares of Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares in the last quarter. IFG Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after buying an additional 17 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TMO shares. Bank of America raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Raymond James raised their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Evercore ISI lifted their price target on 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 research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $601.71 on Friday. The firm has a 50 day simple moving average of $607.99 and a 200 day simple moving average of $584.17. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market cap of $229.68 billion, a P/E ratio of 38.60, a P/E/G ratio of 3.86 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.15 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

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.