Rockland Trust Co. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 51,508 shares of the medical research company’s stock after selling 472 shares during the period. Thermo Fisher Scientific comprises about 1.3% of Rockland Trust Co.’s portfolio, making the stock its 24th largest holding. Rockland Trust Co.’s holdings in Thermo Fisher Scientific were worth $14,572,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Ellevest Inc. lifted its position in Thermo Fisher Scientific by 137.5% during the second quarter. Ellevest Inc. now owns 95 shares of the medical research company’s stock valued at $28,000 after buying an additional 55 shares during the period. American National Bank purchased a new position in Thermo Fisher Scientific during the third quarter valued at $29,000. Massey Quick Simon & CO. LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at $30,000. Redhawk Wealth Advisors Inc. purchased a new position in Thermo Fisher Scientific during the second quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at $32,000. 88.18% of the stock is owned by institutional investors.
In related news, CEO Marc N. Casper sold 2,271 shares of Thermo Fisher Scientific stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $298.00, for a total value of $676,758.00. Following the completion of the sale, the chief executive officer now directly owns 283,502 shares in the company, valued at approximately $84,483,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $272.93, for a total value of $500,280.69. Following the completion of the sale, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,104 shares of company stock valued at $15,418,539. 0.45% of the stock is owned by insiders.
TMO has been the subject of several recent research reports. Credit Suisse Group reissued a “buy” rating and set a $310.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. ValuEngine lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC raised their price objective on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $305.27.
Shares of TMO traded up $6.26 during trading hours on Friday, hitting $286.92. The company had a trading volume of 29,203 shares, compared to its average volume of 1,624,854. The firm has a fifty day moving average price of $287.07 and a 200-day moving average price of $280.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. The stock has a market capitalization of $108.90 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.78 and a beta of 1.13. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.03. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. Thermo Fisher Scientific’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.75 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.25 earnings per share for the current fiscal year.
Thermo Fisher Scientific Company 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.
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