Old North State Wealth Management LLC Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Old North State Wealth Management LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 463 shares of the medical research company’s stock after selling 34 shares during the quarter. Old North State Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $287,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Donaldson Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 1.6% in the third quarter. Donaldson Capital Management LLC now owns 6,741 shares of the medical research company’s stock valued at $4,170,000 after acquiring an additional 107 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Thermo Fisher Scientific by 3.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 574,355 shares of the medical research company’s stock valued at $355,279,000 after acquiring an additional 16,561 shares in the last quarter. Blue Square Asset Management LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter valued at about $215,000. Harbour Investment Management LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $204,000. Finally, BSW Wealth Partners increased its holdings in shares of Thermo Fisher Scientific by 2.8% in the third quarter. BSW Wealth Partners now owns 1,231 shares of the medical research company’s stock worth $762,000 after purchasing an additional 34 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMO. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. 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 note on Tuesday, October 22nd. Finally, Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 2.1 %

Shares of NYSE TMO opened at $557.92 on Monday. The stock has a 50 day moving average price of $599.39 and a 200 day moving average price of $583.76. 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 has a market capitalization of $213.13 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.61 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $437.26 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue 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. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 in the company, valued at approximately $9,333,946.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 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 value of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,300 shares of company stock worth $6,831,268. Insiders own 0.34% of the company’s stock.

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.