Argus Investors Counsel Inc. Sells 31 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Argus Investors Counsel Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,033 shares of the medical research company’s stock after selling 31 shares during the quarter. Thermo Fisher Scientific makes up 1.2% of Argus Investors Counsel Inc.’s holdings, making the stock its 29th largest holding. Argus Investors Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $1,876,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC grew its position in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd 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 purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMO. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Raymond James upped their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen upped their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $656.16.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded down $7.12 during mid-day trading on Tuesday, reaching $588.25. The stock had a trading volume of 503,562 shares, compared to its average volume of 1,459,360. The business’s fifty day moving average is $607.91 and its 200-day moving average is $584.40. 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 firm has a market cap of $224.71 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for 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%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $5.15 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the 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 transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.