Thermo Fisher Scientific Inc. $TMO Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,452 shares of the medical research company’s stock after selling 965 shares during the period. Thermo Fisher Scientific comprises about 1.4% of United Asset Strategies Inc.’s holdings, making the stock its 16th biggest holding. United Asset Strategies Inc.’s holdings in Thermo Fisher Scientific were worth $20,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $15,501,867,000. Corient Private Wealth LP acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $382,547,000. Bank of New York Mellon Corp acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $1,974,561,000. Bank of America Corp DE purchased a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $1,952,930,000. Finally, Legal & General Group Plc purchased a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $1,122,351,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.7%

Shares of TMO stock opened at $708.84 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $711.85. The firm’s fifty day simple moving average is $653.50 and its 200 day simple moving average is $552.54. The firm has a market capitalization of $262.09 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the firm earned $5.79 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 25.23 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $629.27, for a total value of $6,292,700.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at approximately $77,982,284.75. This trade represents a 7.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa Britt sold 11,440 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total value of $7,014,092.80. Following the sale, the vice president directly owned 14,784 shares in the company, valued at $9,064,366.08. The trade was a 43.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 73,368 shares of company stock worth $43,896,820. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, July 23rd. Evercore set a $570.00 price target on Thermo Fisher Scientific in a research note on Monday, July 6th. UBS Group reiterated a “buy” rating and set a $800.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, October 22nd. Citigroup increased their price objective on Thermo Fisher Scientific from $685.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $720.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $684.55.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.