Sumitomo Mitsui Trust Group Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,042,381 shares of the medical research company’s stock after selling 37,024 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Thermo Fisher Scientific were worth $703,659,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $15,501,867,000. Corient Private Wealth LP acquired a new position in Thermo Fisher Scientific in the second quarter worth approximately $382,547,000. Bank of New York Mellon Corp bought a new position in Thermo Fisher Scientific during the second quarter valued at approximately $1,974,561,000. Bank of America Corp DE acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $1,952,930,000. Finally, Legal & General Group Plc bought a new stake in 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 Stock Down 1.7%
TMO opened at $696.78 on Friday. The firm’s 50-day simple moving average is $654.87 and its 200-day simple moving average is $552.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.41 and a current ratio of 1.81. Thermo Fisher Scientific Inc. has a twelve month low of $435.27 and a twelve month high of $711.85. The firm has a market cap of $257.63 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.84 and a beta of 0.87.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the previous year, the firm earned $5.79 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.26 EPS for the current fiscal year.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the sale, the vice president directly owned 14,784 shares in the company, valued at approximately $9,064,366.08. This trade represents a 43.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael D. Shafer sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the sale, the executive vice president owned 20,994 shares in the company, valued at $12,596,400. This trade represents a 54.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,199 shares of company stock worth $45,896,780. Company insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. UBS Group reissued a “buy” rating and set a $800.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, October 22nd. DZ Bank cut Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Robert W. Baird increased their price target on Thermo Fisher Scientific from $723.00 to $756.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $720.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 25th. Finally, Guggenheim started coverage on shares of Thermo Fisher Scientific in a research note on Thursday, October 15th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $689.10.
Thermo Fisher Scientific Company 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.
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