Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,831 shares of the medical research company’s stock after selling 31 shares during the quarter. Oakworth Capital Inc.’s holdings in Thermo Fisher Scientific were worth $1,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its stake in Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB purchased a new position in Thermo Fisher Scientific during the 1st quarter worth $705,636,000. Ameriprise Financial Inc. grew its position in Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. Point72 Asset Management L.P. grew its position in Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Thermo Fisher Scientific by 31.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock worth $565,316,000 after purchasing an additional 247,110 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TMO shares. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Evercore ISI boosted their price objective on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley boosted their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $656.16.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $585.49 on Tuesday. The firm has a 50 day simple moving average of $607.91 and a 200-day simple moving average of $584.40. 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 cap of $223.66 billion, a PE ratio of 36.93, a P/E/G 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 quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the business posted $5.15 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Joseph R. Holmes sold 860 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now 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 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 ninety days. 0.34% of the stock is owned by company 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.