Groesbeck Investment Management Corp NJ Has $2.07 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Groesbeck Investment Management Corp NJ decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,342 shares of the medical research company’s stock after selling 160 shares during the period. Thermo Fisher Scientific accounts for approximately 2.9% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 9th biggest holding. Groesbeck Investment Management Corp NJ’s holdings in Thermo Fisher Scientific were worth $2,067,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Signature Resources Capital Management LLC raised its position in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Stephens Consulting LLC raised its position in 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 during the period. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth about $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.5 %

Shares of Thermo Fisher Scientific stock traded down $3.00 on Friday, reaching $554.38. The company had a trading volume of 1,090,373 shares, compared to its average volume of 1,467,407. Thermo Fisher Scientific Inc. has a 52-week low of $420.21 and a 52-week high of $627.88. The firm’s 50 day moving average price is $605.12 and its two-hundred day moving average price is $584.04. The firm has a market cap of $211.77 billion, a PE ratio of 34.39, a PEG ratio of 3.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the firm earned $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TMO. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Bernstein Bank raised their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday. Royal Bank of Canada reduced their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Profile

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.