Convergence Financial LLC Has $1.82 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Convergence Financial LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 30.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,942 shares of the medical research company’s stock after acquiring an additional 692 shares during the quarter. Convergence Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Brookstone Capital Management increased its position in shares of Thermo Fisher Scientific by 252.4% during the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after purchasing an additional 3,142 shares during the last quarter. New England Research & Management Inc. bought a new stake in Thermo Fisher Scientific during the first quarter worth $349,000. Vicus Capital acquired a new stake in Thermo Fisher Scientific in the first quarter valued at $451,000. Symphony Financial Ltd. Co. acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $259,000. Finally, Founders Financial Securities LLC lifted its stake in Thermo Fisher Scientific by 3.5% in the 1st quarter. Founders Financial Securities LLC now owns 2,039 shares of the medical research company’s stock valued at $1,185,000 after purchasing an additional 69 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

TMO stock opened at $554.38 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $420.21 and a 1 year 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 stock has a market cap of $211.77 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a 50 day simple moving average of $605.12 and a 200 day simple moving average of $584.04.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the business posted $5.69 EPS. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday. Sanford C. Bernstein cut their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday. Morgan Stanley increased their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Company Profile

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.