Everence Capital Management Inc. Sells 670 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Everence Capital Management Inc. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,789 shares of the medical research company’s stock after selling 670 shares during the period. Thermo Fisher Scientific makes up approximately 0.7% of Everence Capital Management Inc.’s holdings, making the stock its 23rd largest position. Everence Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $11,004,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TMO. James Hambro & Partners LLP raised its position in Thermo Fisher Scientific by 5.7% in the third quarter. James Hambro & Partners LLP now owns 209,453 shares of the medical research company’s stock worth $129,524,000 after acquiring an additional 11,276 shares during the period. Castleview Partners LLC raised its holdings in Thermo Fisher Scientific by 2.2% in the 3rd quarter. Castleview Partners LLC now owns 1,656 shares of the medical research company’s stock worth $1,024,000 after purchasing an additional 36 shares during the period. MBE Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 2.6% during the third quarter. MBE Wealth Management LLC now owns 1,278 shares of the medical research company’s stock valued at $791,000 after purchasing an additional 32 shares during the period. Bellecapital International Ltd. increased its position in Thermo Fisher Scientific by 7.4% in the third quarter. Bellecapital International Ltd. now owns 10,168 shares of the medical research company’s stock worth $6,290,000 after buying an additional 703 shares in the last quarter. Finally, Arlington Partners LLC lifted its position in shares of Thermo Fisher Scientific by 18.8% during the 3rd quarter. Arlington Partners LLC now owns 6,651 shares of the medical research company’s stock valued at $4,114,000 after buying an additional 1,053 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $656.16.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock traded down $6.58 during trading hours on Monday, reaching $595.13. 276,273 shares of the stock were exchanged, compared to its average volume of 1,461,038. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The firm has a market capitalization of $227.34 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. The company’s 50-day moving average price is $607.99 and its 200-day moving average price is $584.23.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the firm posted $5.15 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific 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 transaction of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Joseph R. Holmes sold 860 shares of the company’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 transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. 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. 0.34% of the stock is currently owned by company insiders.

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.