Coastline Trust Co reduced its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,605 shares of the medical research company’s stock after selling 880 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.2% of Coastline Trust Co’s portfolio, making the stock its 10th largest holding. Coastline Trust Co’s holdings in Thermo Fisher Scientific were worth $6,736,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in Thermo Fisher Scientific by 2,692.1% during the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after acquiring an additional 22,165,530 shares during the last quarter. Veritas Asset Management LLP raised its stake in Thermo Fisher Scientific by 112.4% during the second quarter. Veritas Asset Management LLP now owns 2,430,759 shares of the medical research company’s stock worth $424,095,000 after purchasing an additional 1,286,259 shares during the period. Harbour Capital Advisors LLC raised its stake in Thermo Fisher Scientific by 18,197.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,201,051 shares of the medical research company’s stock worth $6,884,000 after purchasing an additional 1,194,487 shares during the period. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 2.7% during the first quarter. Vanguard Group Inc. now owns 25,971,301 shares of the medical research company’s stock worth $3,989,193,000 after purchasing an additional 695,079 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Thermo Fisher Scientific by 68.8% during the first quarter. Renaissance Technologies LLC now owns 1,373,044 shares of the medical research company’s stock worth $210,900,000 after purchasing an additional 559,400 shares during the period. Institutional investors own 83.47% of the company’s stock.
In other Thermo Fisher Scientific news, SVP Gregory J. Herrema sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $176.02, for a total value of $5,280,600.00. Following the transaction, the senior vice president now directly owns 67,016 shares of the company’s stock, valued at $11,796,156.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jim P. Manzi sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $175.20, for a total value of $175,200.00. Following the completion of the transaction, the director now directly owns 38,757 shares in the company, valued at $6,790,226.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,738 shares of company stock worth $9,302,112. Insiders own 0.49% of the company’s stock.
A number of equities analysts have weighed in on TMO shares. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research note on Thursday, September 7th. Morgan Stanley reissued an “overweight” rating and set a $220.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. Cowen and Company reaffirmed an “outperform” rating and issued a $220.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research report on Thursday, July 20th. Finally, Bank of America Corporation restated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a research report on Friday, July 21st. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $205.50.
Shares of Thermo Fisher Scientific Inc (NYSE TMO) opened at 200.37 on Friday. The company’s 50-day moving average price is $191.38 and its 200-day moving average price is $177.67. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $201.20. The company has a market capitalization of $78.17 billion, a PE ratio of 34.91 and a beta of 1.05.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a return on equity of 15.94% and a net margin of 11.73%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc will post $9.35 earnings per share for the current fiscal year.
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Thermo Fisher Scientific Company Profile
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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