Maple Capital Management Inc. Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Maple Capital Management Inc. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 646 shares of the medical research company’s stock after selling 39 shares during the period. Maple Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TMO. Capital World Investors raised its stake in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB acquired a new stake in shares of Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. grew its position in shares of Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after buying an additional 296,646 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Thermo Fisher Scientific by 31.9% during the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock worth $565,316,000 after buying an additional 247,110 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $590.00 on Tuesday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The firm has a fifty day moving average of $607.91 and a 200-day moving average of $584.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The company has a market cap of $225.38 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the business earned $5.15 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated 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 directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Raymond James raised their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

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.