1620 Investment Advisors Inc. Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

1620 Investment Advisors Inc. reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 623 shares of the medical research company’s stock after selling 185 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $385,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Resources Capital Management LLC raised its holdings in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC grew its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at about $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TMO shares. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America upped their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Trading Up 0.5 %

NYSE:TMO opened at $550.43 on Thursday. The company has a market capitalization of $210.26 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $433.15 and a 52-week high of $627.88. The stock has a fifty day simple moving average of $601.50 and a 200-day simple moving average of $583.56. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $5.69 earnings per share. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,300 shares of company stock worth $6,831,268. Corporate 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.