Tealwood Asset Management Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,030 shares of the medical research company’s stock after selling 1,576 shares during the period. Tealwood Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $2,048,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TMO. Ellevest Inc. boosted its stake in Thermo Fisher Scientific by 137.5% during the 2nd quarter. Ellevest Inc. now owns 95 shares of the medical research company’s stock worth $28,000 after purchasing an additional 55 shares during the period. American National Bank acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth $29,000. Massey Quick Simon & CO. LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $30,000. Candriam Luxembourg S.C.A. boosted its stake in Thermo Fisher Scientific by 11.3% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 104,069 shares of the medical research company’s stock worth $30,000 after purchasing an additional 10,569 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 88.21% of the company’s stock.
Thermo Fisher Scientific stock traded down $4.32 during trading hours on Thursday, reaching $292.61. 837,329 shares of the stock were exchanged, compared to its average volume of 1,615,755. The stock has a market cap of $112.53 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.84 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45. The firm’s 50 day moving average is $288.56 and its 200 day moving average is $281.56.
A number of analysts recently weighed in on the stock. Credit Suisse Group reiterated a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. Robert W. Baird reiterated an “outperform” rating and set a $319.00 price target (up previously from $305.00) on shares of Thermo Fisher Scientific in a research note on Thursday. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC increased their price target on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, ValuEngine cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $309.92.
In other news, CEO Marc N. Casper sold 2,271 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $298.00, for a total value of $676,758.00. Following the completion of the transaction, the chief executive officer now owns 283,502 shares in the company, valued at approximately $84,483,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the completion of the transaction, the chief executive officer now owns 342,193 shares of the company’s stock, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,104 shares of company stock valued at $15,418,539. 0.45% of the stock is owned by insiders.
About Thermo Fisher Scientific
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.
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