Means Investment CO. Inc. Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Means Investment CO. Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371 shares of the medical research company’s stock after selling 45 shares during the quarter. Means Investment CO. Inc.’s holdings in Thermo Fisher Scientific were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $601.71 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The firm has a market capitalization of $229.68 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The business has a 50 day simple moving average of $607.99 and a 200-day simple moving average of $584.17.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the firm earned $5.15 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Michael A. Boxer sold 2,000 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 $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. 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. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price on the stock. Robert W. Baird increased their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Finally, Bank of America lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $656.16.

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.