Lake Street Private Wealth LLC Sells 2,573 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lake Street Private Wealth LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 62.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,540 shares of the medical research company’s stock after selling 2,573 shares during the period. Lake Street Private Wealth LLC’s holdings in Thermo Fisher Scientific were worth $953,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Beaumont Financial Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the last quarter. Cedar Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 14.5% in the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 17 shares during the last quarter. Lafayette Investments Inc. lifted its stake in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after acquiring an additional 17 shares during the last quarter. IFG Advisors LLC increased its holdings in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Down 3.1 %

NYSE TMO traded down $18.42 during trading hours on Wednesday, hitting $567.96. The company’s stock had a trading volume of 548,082 shares, compared to its average volume of 1,460,471. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a market capitalization of $216.96 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company’s 50-day simple moving average is $607.55 and its two-hundred day simple moving average is $584.45.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter last year, the firm earned $5.15 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent research reports. Evercore ISI increased their price objective on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Robert W. Baird increased their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays increased their price target on Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $656.00.

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.