Thermo Fisher Scientific Inc. $TMO Stock: LaFleur & Godfrey LLC Lowers Position

LaFleur & Godfrey LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,272 shares of the medical research company’s stock after selling 809 shares during the period. Thermo Fisher Scientific comprises 2.4% of LaFleur & Godfrey LLC’s portfolio, making the stock its 11th largest holding. LaFleur & Godfrey LLC’s holdings in Thermo Fisher Scientific were worth $19,760,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $15,501,867,000. Corient Private Wealth LP acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $382,547,000. Bank of New York Mellon Corp bought a new stake in Thermo Fisher Scientific during the second quarter valued at about $1,974,561,000. Bank of America Corp DE bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $1,952,930,000. Finally, Legal & General Group Plc bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $1,122,351,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 11,440 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total value of $7,014,092.80. Following the completion of the transaction, the vice president directly owned 14,784 shares of the company’s stock, valued at approximately $9,064,366.08. This trade represents a 43.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 25,500 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the completion of the transaction, the executive vice president directly owned 20,994 shares of the company’s stock, valued at approximately $12,596,400. This trade represents a 54.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 73,368 shares of company stock valued at $43,896,820. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group reissued a “buy” rating and issued a $800.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, October 22nd. TD Cowen lifted their price objective on Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Wells Fargo & Company lowered shares of Thermo Fisher Scientific from an “overweight” rating to an “underweight” rating in a research report on Wednesday, September 9th. Citigroup raised their price target on Thermo Fisher Scientific from $685.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $684.55.

Thermo Fisher Scientific Stock Up 1.6%

Shares of TMO stock opened at $704.41 on Thursday. The firm has a fifty day moving average of $651.61 and a 200-day moving average of $552.09. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $710.84. The company has a market capitalization of $260.45 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.75 and a beta of 0.87. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.71.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 EPS for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the previous year, the company posted $5.79 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 25.23 earnings per share for the current fiscal year.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.