Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,258 shares of the medical research company’s stock after acquiring an additional 1,646 shares during the period. Thermo Fisher Scientific accounts for approximately 3.4% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 14th biggest position. Guinness Atkinson Asset Management Inc’s holdings in Thermo Fisher Scientific were worth $6,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TMO. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the period. Headlands Technologies LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at about $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $3.13 during mid-day trading on Friday, reaching $596.92. The company had a trading volume of 2,138,162 shares, compared to its average volume of 1,470,010. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The firm has a market cap of $227.85 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 3.84 and a beta of 0.77. The company has a 50 day moving average of $607.73 and a 200-day moving average of $583.34.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the business earned $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TMO shares. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Stifel Nicolaus raised their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised their price objective on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $653.72.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last three months. 0.34% of the stock is currently owned by company insiders.

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.