Hartford Financial Management Inc. Sells 142 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

by · The Cerbat Gem

Hartford Financial Management Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,440 shares of the medical research company’s stock after selling 142 shares during the period. Hartford Financial Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BDF Gestion bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at about $6,368,000. Nisa Investment Advisors LLC increased its position in shares of Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after buying an additional 8,180 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares during the last quarter. Advisors Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 5.8% in the first quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock worth $64,613,000 after purchasing an additional 6,089 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Thermo Fisher Scientific in the first quarter worth approximately $1,161,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $546.55 on Friday. The stock has a fifty day moving average of $600.36 and a 200 day moving average of $583.31. Thermo Fisher Scientific Inc. has a 52 week low of $433.15 and a 52 week high of $627.88. The firm has a market capitalization of $208.78 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 3.64 and a beta of 0.77. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.69 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 of the company’s stock, valued at $67,175,513.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,300 shares of company stock worth $6,831,268. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TMO has been the topic of several research analyst reports. Sanford C. Bernstein decreased their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four research 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 company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Read Our Latest Report on Thermo Fisher Scientific

About Thermo Fisher Scientific

(Free Report)

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.

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