Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 629 shares of the medical research company’s stock after selling 20 shares during the period. Cornerstone Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $389,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $29,000. Stephens Consulting LLC raised its holdings 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 worth $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific during the first quarter worth approximately $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TMO has been the subject of a number of research reports. Barclays lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research note on Tuesday. Raymond James increased their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $656.16.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $601.71 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The firm has a market capitalization of $229.85 billion, a PE ratio of 37.33, a PEG ratio of 3.86 and a beta of 0.77. The company’s 50-day moving average is $607.99 and its 200-day moving average is $584.09.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.15 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

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.