Holderness Investments Co. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,025 shares of the medical research company’s stock after selling 100 shares during the quarter. Holderness Investments Co.’s holdings in Thermo Fisher Scientific were worth $299,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JJJ Advisors Inc. bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $25,000. Ellevest Inc. grew its holdings in shares of Thermo Fisher Scientific by 137.5% in the 2nd quarter. Ellevest Inc. now owns 95 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. American National Bank bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $29,000. Massey Quick Simon & CO. LLC bought a new position in Thermo Fisher Scientific during the second quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in Thermo Fisher Scientific during the second quarter worth about $31,000. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TMO traded down $0.96 during trading on Thursday, reaching $293.61. 8,065 shares of the stock were exchanged, compared to its average volume of 1,427,181. Thermo Fisher Scientific Inc. has a 12 month low of $208.34 and a 12 month high of $306.00. The firm has a market cap of $120.61 billion, a PE ratio of 26.40, a PEG ratio of 1.95 and a beta of 1.14. The stock has a 50-day moving average price of $290.20 and a 200-day moving average price of $283.23. The company has a current ratio of 1.80, a quick ratio of 1.23 and a debt-to-equity ratio of 0.56.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.06. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 12.33 earnings per share for the current fiscal year.
In other news, CEO Marc N. Casper sold 47,729 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $295.88, for a total value of $14,122,056.52. Following the completion of the sale, the chief executive officer now directly owns 328,960 shares in the company, valued at $97,332,684.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $272.93, for a total transaction of $500,280.69. Following the completion of the sale, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,833 shares of company stock valued at $15,299,095. Corporate insiders own 0.45% of the company’s stock.
A number of equities analysts recently commented on the company. Credit Suisse Group reiterated a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $305.00 to $319.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. ValuEngine cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC lifted their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $314.45.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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