Coastline Trust Co Sells 880 Shares of Thermo Fisher Scientific Inc (TMO)

Coastline Trust Co lessened its holdings in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,605 shares of the medical research company’s stock after selling 880 shares during the period. Thermo Fisher Scientific accounts for approximately 1.2% of Coastline Trust Co’s investment portfolio, making the stock its 10th biggest holding. Coastline Trust Co’s holdings in Thermo Fisher Scientific were worth $6,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sharkey Howes & Javer raised its position in shares of Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock worth $113,000 after acquiring an additional 7 shares in the last quarter. Beacon Trust Co. raised its position in shares of Thermo Fisher Scientific by 0.6% during the 1st quarter. Beacon Trust Co. now owns 2,159 shares of the medical research company’s stock worth $341,000 after acquiring an additional 12 shares in the last quarter. Reinhart Partners Inc. raised its position in shares of Thermo Fisher Scientific by 0.6% during the 2nd quarter. Reinhart Partners Inc. now owns 3,430 shares of the medical research company’s stock worth $598,000 after acquiring an additional 20 shares in the last quarter. Azimuth Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 0.8% during the 1st quarter. Azimuth Capital Management LLC now owns 3,210 shares of the medical research company’s stock worth $493,000 after acquiring an additional 25 shares in the last quarter. Finally, Bienville Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 1.6% during the 2nd quarter. Bienville Capital Management LLC now owns 1,687 shares of the medical research company’s stock worth $295,000 after acquiring an additional 27 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors and hedge funds.

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Thermo Fisher Scientific Inc (NYSE:TMO) opened at 188.77 on Wednesday. Thermo Fisher Scientific Inc has a 52 week low of $139.07 and a 52 week high of $194.30. The stock has a market capitalization of $73.64 billion, a P/E ratio of 32.89 and a beta of 1.05. The firm has a 50 day moving average price of $189.61 and a 200 day moving average price of $175.55.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc will post $9.35 earnings per share for the current year.

Several brokerages have recently weighed in on TMO. Leerink Swann raised their target price on Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Monday, October 9th. Jefferies Group LLC reissued a “hold” rating and set a $195.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, September 28th. Goldman Sachs Group, Inc. (The) began coverage on Thermo Fisher Scientific in a research report on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price on the stock. Barclays PLC reissued an “overweight” rating and set a $215.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Monday, September 25th. Finally, Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $212.00 target price on the stock in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average price target of $203.64.

In other news, Director Jim P. Manzi sold 11,318 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the completion of the transaction, the director now directly owns 38,757 shares of the company’s stock, valued at $6,702,635.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter E. Hornstra sold 3,894 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $185.18, for a total value of $721,090.92. Following the transaction, the vice president now directly owns 19,751 shares of the company’s stock, valued at $3,657,490.18. The disclosure for this sale can be found here. Insiders have sold 52,738 shares of company stock valued at $9,302,112 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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