SSI Investment Management Inc. lessened its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,828 shares of the medical research company’s stock after selling 22 shares during the quarter. SSI Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $320,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its position in Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after acquiring an additional 253 shares in the last quarter. Cribstone Capital Management LLC boosted its position in Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $113,000. Chicago Partners Investment Group LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $108,000. Finally, CWM LLC boosted its position in Thermo Fisher Scientific by 17.0% during the 2nd quarter. CWM LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 103 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors and hedge funds.
In other Thermo Fisher Scientific news, VP Peter E. Hornstra sold 3,894 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $185.18, for a total value of $721,090.92. Following the completion of the transaction, the vice president now owns 19,751 shares in the company, valued at $3,657,490.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jim P. Manzi sold 11,318 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the completion of the transaction, the director now owns 38,757 shares of the company’s stock, valued at approximately $6,702,635.58. The disclosure for this sale can be found here. Insiders sold 52,738 shares of company stock worth $9,302,112 in the last three months. 0.49% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the company. Zacks Investment Research cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Leerink Swann increased their target price on Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Monday, October 9th. Cowen and Company reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. Barclays PLC reaffirmed an “overweight” rating and set a $215.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Monday, September 25th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price on the stock. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $203.64.
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Shares of Thermo Fisher Scientific Inc (NYSE:TMO) opened at 193.86 on Monday. The stock has a 50 day moving average price of $190.66 and a 200-day moving average price of $176.57. The firm has a market cap of $75.63 billion, a PE ratio of 33.77 and a beta of 1.05. Thermo Fisher Scientific Inc has a 52-week low of $139.07 and a 52-week high of $194.43.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. Thermo Fisher Scientific’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific Inc will post $9.35 EPS for the current fiscal year.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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