Davis Rea LTD. Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Davis Rea LTD. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,029 shares of the medical research company’s stock after selling 4,972 shares during the quarter. Thermo Fisher Scientific accounts for about 3.2% of Davis Rea LTD.’s investment portfolio, making the stock its 14th biggest holding. Davis Rea LTD.’s holdings in Thermo Fisher Scientific were worth $7,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TMO. Willis Johnson & Associates Inc. bought a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $206,000. Veracity Capital LLC boosted its position in Thermo Fisher Scientific by 20.0% in the first quarter. Veracity Capital LLC now owns 737 shares of the medical research company’s stock worth $428,000 after purchasing an additional 123 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Thermo Fisher Scientific by 76.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,953 shares of the medical research company’s stock valued at $2,297,000 after purchasing an additional 1,711 shares during the period. SeaBridge Investment Advisors LLC grew its position in shares of Thermo Fisher Scientific by 7.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,207 shares of the medical research company’s stock valued at $6,514,000 after acquiring an additional 730 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in Thermo Fisher Scientific during the first quarter valued at about $3,206,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,300 shares of company stock worth $6,831,268 in the last three months. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on TMO shares. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reduced their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $550.62 on Thursday. The stock has a market capitalization of $210.34 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 3.66 and a beta of 0.77. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a twelve month low of $433.15 and a twelve month high of $627.88. The stock has a fifty day simple moving average of $601.50 and a two-hundred day simple moving average of $583.56.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.69 EPS. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific 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.