Saturday, June 25, 2022

Thermo Fisher Scientific Inc. [TMO] Executive Vice President & COO makes an insider sale of 13,030 shares worth 7,362,493.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Thermo Fisher Scientific Inc. shares valued at $7,362,493 were sold by Lagarde Michel on May 27. At $565.04 per share, Lagarde Michel sold 13,030 shares. The insider’s holdings dropped to 15,758 shares worth approximately $8.18 million following the completion of this transaction.

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Also, Lagarde Michel sold 16,764 shares, netting a total of over 8,985,593 in proceeds. Following the sale of shares at $536.01 each, the insider now holds 15,758 shares.

Before that, Lagarde Michel had sold 5,048 shares from its account. In a trade valued at $2,738,370, the Executive Vice President & COO traded Thermo Fisher Scientific Inc. shares for $542.47 each. Upon closing the transaction, the insider’s holdings decreased to 5,048 shares, worth approximately $8.18 million.

As published in a research note from Wells Fargo on April 25, 2022, Thermo Fisher Scientific Inc. [TMO] has been rated down from an Equal weight to an Underweight and the price target has been revised to $525. This represents a 1.1% premium over Wednesday’s closing price. As of October 20, 2021, Citigroup has increased its “Neutral” rating to a “Buy” for TMO.

Analyzing TMO’s Price Performance

On Wednesday, Thermo Fisher Scientific Inc. [NYSE: TMO] rose 1.11% to $519.22. The stock’s lowest price that day was $508.44, but it reached a high of $525.49 in the same session. During the last five days, there has been a surge of approximately 2.32%. Over the course of the year, Thermo Fisher Scientific Inc. shares have dropped approximately -22.18%. Shares of the company reached a 52-week high of $664.27 on 01/03/22 and a 52-week low of $497.83 on 06/16/22. A 50-day SMA is recorded $546.14, while a 200-day SMA reached $584.57. Nevertheless, trading volume fell to 1.21 million shares from 1.46 million shares the previous day.

Support And Resistance Levels for Thermo Fisher Scientific Inc. (TMO)

According to the 24-hour chart, there is a support level at 509.94, which, if violated, would cause prices to drop to 500.67. In the upper region, resistance lies at 526.99. The next price resistance is at 534.77. RSI (Relative Strength Index) is 43.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.72, which suggests the price will decrease in the coming days. Percent R is at 70.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Thermo Fisher Scientific Inc. (TMO)?

According to The Vanguard Group, Inc. filings, the company currently owns 29,907,483 shares, which is about 7.64% of the total TMO shares outstanding. The investor’s shares have appreciated by 394,144 from its previous 13-F filing of 29513339.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $11,070,501,093. SSgA Funds Management, Inc. reduced a -0.03% interest valued at $9.2 billion while T. Rowe Price Associates, Inc. purchased a 1,460,532 stake. A total of -682,179 shares of Thermo Fisher Scientific Inc. were bought by Capital Research & Management Co during the quarter, and -191,892 were sold by Massachusetts Financial Services. In its current portfolio, Fidelity Management & Research Co holds 9,244,997 shares valued at $5.25 billion.

In terms of Thermo Fisher Scientific Inc. share price expectations, FactSet research, analysts set an average price target of $664.68 in the next 12 months, up nearly 31.44% from the previous closing price of $513.54. Analysts anticipate Thermo Fisher Scientific Inc. stock to reach $720.00 by 2022, with the lowest price target being $525.00. In spite of this, 23 analysts ranked Thermo Fisher Scientific Inc. stock as an Overweight at the end of 2022. On August 05, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and resumed coverage with a $580.

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