Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lifted by Carderock Capital Management Inc.

Carderock Capital Management Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,640 shares of the medical research company’s stock after purchasing an additional 754 shares during the period. Thermo Fisher Scientific makes up about 1.8% of Carderock Capital Management Inc.’s portfolio, making the stock its 28th largest holding. Carderock Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $7,819,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC grew its holdings in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC raised its holdings in shares of 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 in the last quarter. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific during the first quarter worth approximately $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific in the second quarter worth approximately $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the business’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 sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 over the last 90 days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $591.50 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The company’s fifty day moving average is $607.90 and its 200-day moving average is $583.81. The firm has a market cap of $225.95 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $5.15 earnings per share. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TMO shares. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday. They issued a “buy” rating and a $680.00 target price for the company. Stephens began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Finally, Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $656.16.

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.