Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,711 shares of the medical research company’s stock after selling 1,114 shares during the quarter. Argent Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $23,946,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TMO. Beaumont Financial Advisors LLC increased its position in shares of Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after purchasing an additional 17 shares during the last quarter. Cedar Wealth Management LLC raised its stake in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after buying an additional 17 shares in the last quarter. Lafayette Investments Inc. lifted its holdings in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the last quarter. IFG Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after acquiring an additional 17 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in shares of Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.6 %

TMO stock traded down $9.27 during mid-day trading on Thursday, reaching $567.22. 443,765 shares of the stock traded hands, compared to its average volume of 1,462,867. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a market cap of $216.68 billion, a P/E ratio of 35.16, a P/E/G ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88. The stock’s fifty day moving average is $607.04 and its 200-day moving average is $584.39.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 earnings per share. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Bernstein Bank increased their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday. Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Five 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $654.00.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. 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 other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

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.