Thermo Fisher Scientific Inc. $TMO Stock Holdings Lessened by Benin Management CORP

Benin Management CORP reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 775 shares of the medical research company’s stock after selling 200 shares during the quarter. Benin Management CORP’s holdings in Thermo Fisher Scientific were worth $314,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Lafayette Investments Inc. lifted its position in Thermo Fisher Scientific by 2.4% in the 2nd quarter. Lafayette Investments Inc. now owns 927 shares of the medical research company’s stock valued at $376,000 after purchasing an additional 22 shares during the last quarter. Root Financial Partners LLC lifted its position in Thermo Fisher Scientific by 5.0% in the 1st quarter. Root Financial Partners LLC now owns 506 shares of the medical research company’s stock valued at $252,000 after purchasing an additional 24 shares during the last quarter. Rossmore Private Capital lifted its position in Thermo Fisher Scientific by 0.5% in the 1st quarter. Rossmore Private Capital now owns 4,652 shares of the medical research company’s stock valued at $2,315,000 after purchasing an additional 24 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Thermo Fisher Scientific by 3.1% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 803 shares of the medical research company’s stock valued at $326,000 after purchasing an additional 24 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $559.48 on Wednesday. The firm’s 50 day simple moving average is $499.00 and its 200-day simple moving average is $450.49. The company has a market cap of $211.27 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $5.37 earnings per share. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TMO. Wells Fargo & Company cut their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. UBS Group raised their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Scotiabank raised shares of Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 price objective on the stock in a research note on Friday, July 11th. Fifteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $581.72.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at $1,142,408.97. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company’s stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,066 shares of company stock valued at $14,182,963 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.