Maple Capital Management Inc. Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Maple Capital Management Inc. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 646 shares of the medical research company’s stock after selling 39 shares during the quarter. Maple Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $400,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC raised its position in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC raised its position in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific during the 1st quarter worth $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. 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 accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 in the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $590.00 on Tuesday. The stock has a market capitalization of $225.38 billion, a P/E ratio of 36.93, a P/E/G ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm’s 50-day moving average is $607.91 and its two-hundred day moving average is $584.40.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.15 EPS. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Robert W. Baird increased their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four equities research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $656.16.

Thermo Fisher Scientific 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.