Benin Management CORP Purchases 93 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Benin Management CORP increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,122 shares of the medical research company’s stock after purchasing an additional 93 shares during the quarter. Benin Management CORP’s holdings in Thermo Fisher Scientific were worth $694,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital World Investors boosted its stake in Thermo Fisher Scientific by 10.0% in 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 acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new position in Thermo Fisher Scientific in the first quarter valued at approximately $705,636,000. Ameriprise Financial Inc. boosted its stake in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after acquiring an additional 296,646 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Thermo Fisher Scientific by 31.9% in the second quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock valued at $565,316,000 after acquiring an additional 247,110 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TMO shares. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Robert W. Baird increased their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $656.16.

Thermo Fisher Scientific Stock Down 1.3 %

Shares of Thermo Fisher Scientific stock traded down $7.55 during trading hours on Monday, reaching $594.16. 166,711 shares of the company’s stock were exchanged, compared to its average volume of 1,460,498. The company has a 50 day moving average of $607.99 and a two-hundred day moving average of $584.23. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a market cap of $226.97 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.85 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping 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 company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same period in the prior year, the business posted $5.15 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’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 completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the firm’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 completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

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.