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Thermo Fisher Scientific Inc. [TMO] Executive Vice President & COO makes an insider purchase of 20,000 shares worth 11.8 million.

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 $11,801,000 were sold by Lagarde Michel on May 14 ’24. At $590.05 per share, Lagarde Michel sold 20,000 shares. The insider’s holdings dropped to 18,134 shares worth approximately $10.86 million following the completion of this transaction.

Also, Williamson Stephen sold 21,925 shares, netting a total of over 12,963,595 in proceeds. Following the sale of shares at $591.27 each, the insider now holds 36,482 shares.

Before that, CASPER MARC N had sold 10,000 shares from its account. In a trade valued at $5,737,356, the Chairman & CEO traded Thermo Fisher Scientific Inc. shares for $573.74 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $74.17 million.

Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late January. As of January 08, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for TMO. Earlier on December 18, 2023, HSBC Securities initiated its rating. Their recommendation was “a Buy” for TMO stock.

Analyzing TMO Stock Performance

During the last five days, there has been a surge of approximately 4.42%. Over the course of the year, Thermo Fisher Scientific Inc. shares have jumped approximately 12.85%. Shares of the company reached a 52-week high of $603.82 on 03/08/24 and a 52-week low of $527.32 on 01/04/24. A 50-day SMA is recorded $576.94, while a 200-day SMA reached $532.11. Nevertheless, trading volume fell to 1.19 million shares from 1.04 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 595.37, which, if violated, would cause prices to drop to 591.71. In the upper region, resistance lies at 602.34. The next price resistance is at 605.65. RSI (Relative Strength Index) is 66.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 15.31, which suggests the price will increase in the coming days. Percent R is at 8.13%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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