Spinnaker Trust Sells 546 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Spinnaker Trust trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,273 shares of the medical research company’s stock after selling 546 shares during the quarter. Spinnaker Trust’s holdings in Thermo Fisher Scientific were worth $6,355,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. BDF Gestion acquired a new position in Thermo Fisher Scientific during the second quarter worth $6,368,000. Nisa Investment Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 6.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after buying an additional 8,180 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after acquiring an additional 1,480 shares during the last quarter. Advisors Capital Management LLC increased its holdings in Thermo Fisher Scientific by 5.8% during the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after buying an additional 6,089 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $1,161,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. 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 is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,150 shares of company stock worth $10,094,925. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. 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 report on Monday, September 16th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Down 1.4 %

NYSE:TMO traded down $7.88 on Wednesday, hitting $552.91. The stock had a trading volume of 393,684 shares, compared to its average volume of 1,456,286. The stock has a market cap of $211.49 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm’s fifty day simple moving average is $597.40 and its two-hundred day simple moving average is $583.97. Thermo Fisher Scientific Inc. has a 1 year low of $437.26 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.69 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

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.