Sterling Investment Management LLC Sells 307 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sterling Investment Management LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.2% during the third quarter, Holdings Channel reports. The institutional investor owned 4,639 shares of the medical research company’s stock after selling 307 shares during the quarter. Thermo Fisher Scientific makes up approximately 2.2% of Sterling Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Sterling Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $2,870,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Signature Resources Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 318.2% in 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 during the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Stephens Consulting LLC raised its holdings in 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 purchasing an additional 29 shares during the period. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMO. Raymond James boosted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. TD Cowen upped their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Morgan Stanley lifted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $656.16.

Thermo Fisher Scientific Trading Up 0.4 %

Shares of NYSE:TMO opened at $601.71 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market capitalization of $229.85 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.85 and a beta of 0.77. The business’s 50-day moving average is $607.99 and its 200 day moving average is $584.23. 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 released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business earned $5.15 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. This 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 through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 of the company’s stock, valued at $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last three months. 0.34% of the stock is currently owned by insiders.

About Thermo Fisher Scientific

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.