Bleakley Financial Group LLC Sells 13,617 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bleakley Financial Group LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 55.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,056 shares of the medical research company’s stock after selling 13,617 shares during the period. Bleakley Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $6,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TMO. Capital World Investors increased its holdings in shares of Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth about $705,636,000. Ameriprise Financial Inc. boosted its stake in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 31.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock worth $565,316,000 after purchasing an additional 247,110 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TMO shares. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America boosted their price objective 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. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $656.16.

Thermo Fisher Scientific Trading Up 1.3 %

NYSE TMO opened at $599.25 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The firm has a market cap of $228.91 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a 50 day moving average price of $607.88 and a 200 day moving average price of $583.92.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the prior year, the business posted $5.15 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This represents a 0.00 % decrease in their position. The transaction 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 company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. 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 quarter, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by corporate insiders.

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.