Sterling Investment Management LLC Sells 254 Shares of Thermo Fisher Scientific Inc. $TMO

Sterling Investment Management LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,191 shares of the medical research company’s stock after selling 254 shares during the quarter. Thermo Fisher Scientific comprises about 1.1% of Sterling Investment Management LLC’s portfolio, making the stock its 26th biggest holding. Sterling Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $1,699,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TMO. Nuveen LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $532,360,000. EdgePoint Investment Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $172,139,000. Cohen Investment Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 6,655.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 336,156 shares of the medical research company’s stock valued at $167,271,000 after acquiring an additional 331,180 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Thermo Fisher Scientific by 13.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,750,923 shares of the medical research company’s stock valued at $1,368,859,000 after acquiring an additional 329,974 shares during the period. Finally, Auto Owners Insurance Co lifted its position in shares of Thermo Fisher Scientific by 6,773.5% during the 1st quarter. Auto Owners Insurance Co now owns 288,000 shares of the medical research company’s stock valued at $143,309,000 after acquiring an additional 283,810 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $535.00 price target (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Barclays lifted their target price on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $581.72.

Thermo Fisher Scientific Trading Up 2.9%

Shares of Thermo Fisher Scientific stock opened at $559.48 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The stock has a market capitalization of $211.27 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77. The stock has a 50 day moving average price of $499.00 and a two-hundred day moving average price of $450.49.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the company posted $5.37 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Insider Activity at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 385 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares in the company, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 400 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $500.50, for a total value of $200,200.00. Following the sale, the chief executive officer owned 113,762 shares in the company, valued at approximately $56,937,881. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,066 shares of company stock worth $14,182,963. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Company 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.