Northeast Investment Management Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Northeast Investment Management reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,796 shares of the medical research company’s stock after selling 158 shares during the quarter. Thermo Fisher Scientific comprises 2.4% of Northeast Investment Management’s investment portfolio, making the stock its 10th largest position. Northeast Investment Management’s holdings in Thermo Fisher Scientific were worth $53,689,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TMO. Signature Resources Capital Management LLC lifted its stake in shares of 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 valued at $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at $29,000. Stephens Consulting LLC raised its stake in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific during the first quarter valued at $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $33,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TMO shares. Barclays decreased their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,300 shares of company stock worth $6,831,268 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $557.92 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $213.13 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.61 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $437.26 and a 12 month high of $627.88. The business’s 50-day moving average is $599.39 and its 200 day moving average is $583.76.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $5.69 earnings per share. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

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.