Castle Wealth Management LLC Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Castle Wealth Management LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,767 shares of the medical research company’s stock after selling 32 shares during the period. Castle Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TMO. Advisory Alpha LLC raised its holdings in Thermo Fisher Scientific by 77.4% in the first quarter. Advisory Alpha LLC now owns 779 shares of the medical research company’s stock valued at $453,000 after acquiring an additional 340 shares in the last quarter. Advisory Services Network LLC raised its stake in Thermo Fisher Scientific by 2.7% during the first quarter. Advisory Services Network LLC now owns 8,869 shares of the medical research company’s stock valued at $5,155,000 after buying an additional 231 shares in the last quarter. CFO4Life Group LLC bought a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $234,000. Empirical Finance LLC raised its holdings in shares of Thermo Fisher Scientific by 3.4% during the first quarter. Empirical Finance LLC now owns 14,143 shares of the medical research company’s stock worth $8,220,000 after purchasing an additional 467 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Thermo Fisher Scientific by 30.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 45,451 shares of the medical research company’s stock worth $26,417,000 after purchasing an additional 10,547 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $559.68 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $214.08 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $437.26 and a fifty-two week high of $627.88. The firm’s 50 day simple moving average is $596.33 and its 200-day simple moving average is $583.80.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) 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 company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This 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 18,150 shares of company stock valued at $10,094,925 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Raymond James increased their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price for the company. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.