Cedrus LLC Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cedrus LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 624 shares of the medical research company’s stock after purchasing an additional 152 shares during the period. Cedrus LLC’s holdings in Thermo Fisher Scientific were worth $386,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC raised its stake 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 valued at $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC bought a new position in Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC raised its stake in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC bought a new position in shares of Thermo Fisher Scientific in the first quarter worth about $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $601.71 on Friday. The company has a market capitalization of $229.68 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $607.99 and its 200 day moving average price is $584.17. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.15 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several research analyst reports. Stephens initiated coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. TD Cowen lifted their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America boosted their target price 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. Finally, UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $656.16.

Thermo Fisher Scientific Company 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.