Canton Hathaway LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 896 shares of the medical research company’s stock after purchasing an additional 83 shares during the quarter. Canton Hathaway LLC’s holdings in Thermo Fisher Scientific were worth $261,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Lockheed Martin Investment Management Co. purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at about $6,232,000. Hunter Associates Investment Management LLC grew its stake in Thermo Fisher Scientific by 2.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 13,412 shares of the medical research company’s stock valued at $3,671,000 after acquiring an additional 280 shares in the last quarter. AGF Investments America Inc. grew its stake in Thermo Fisher Scientific by 2.0% during the 1st quarter. AGF Investments America Inc. now owns 58,394 shares of the medical research company’s stock valued at $15,984,000 after acquiring an additional 1,165 shares in the last quarter. Highstreet Asset Management Inc. purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at about $381,000. Finally, Empirical Finance LLC purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at about $257,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
TMO has been the topic of several research analyst reports. Barclays set a $330.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Monday, July 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. ValuEngine cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC lifted their target price on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $305.27.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.03. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 EPS. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 12.25 EPS for the current fiscal year.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the completion of the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jim P. Manzi sold 1,833 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total value of $500,280.69. Following the sale, the director now directly owns 28,592 shares of the company’s stock, valued at approximately $7,803,614.56. The disclosure for this sale can be found here. In the last three months, insiders sold 54,104 shares of company stock valued at $15,418,539. 0.45% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
Read More: Hedge Funds – How They Work For Investors
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.