Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by REDW Wealth LLC

REDW Wealth LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 582 shares of the medical research company’s stock after selling 43 shares during the quarter. REDW Wealth LLC’s holdings in Thermo Fisher Scientific were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Pure Financial Advisors LLC boosted its holdings in Thermo Fisher Scientific by 100.0% in the third quarter. Pure Financial Advisors LLC now owns 1,044 shares of the medical research company’s stock valued at $645,000 after purchasing an additional 522 shares in the last quarter. New Covenant Trust Company N.A. boosted its holdings in Thermo Fisher Scientific by 15.5% in the third quarter. New Covenant Trust Company N.A. now owns 507 shares of the medical research company’s stock valued at $312,000 after purchasing an additional 68 shares in the last quarter. Janney Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 2.1% in the third quarter. Janney Capital Management LLC now owns 18,677 shares of the medical research company’s stock valued at $11,553,000 after purchasing an additional 380 shares in the last quarter. Optas LLC boosted its holdings in Thermo Fisher Scientific by 9.4% in the third quarter. Optas LLC now owns 1,904 shares of the medical research company’s stock valued at $1,178,000 after purchasing an additional 164 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in Thermo Fisher Scientific by 2.4% in the third quarter. Princeton Global Asset Management LLC now owns 8,167 shares of the medical research company’s stock valued at $5,052,000 after purchasing an additional 191 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 2.1 %

Shares of TMO stock opened at $557.92 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $437.26 and a fifty-two week high of $627.88. The stock has a market cap of $213.13 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.61 and a beta of 0.79. The business has a fifty day simple moving average of $599.39 and a 200-day simple moving average of $583.51. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

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, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the business posted $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,300 shares of company stock worth $6,831,268 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TMO shares. Stephens started coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI decreased their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $649.33.

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.