Optimum Investment Advisors Sells 220 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Optimum Investment Advisors trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.4% during the third quarter, Holdings Channel reports. The institutional investor owned 973 shares of the medical research company’s stock after selling 220 shares during the quarter. Optimum Investment Advisors’ holdings in Thermo Fisher Scientific were worth $602,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Beaumont Financial Advisors LLC boosted its position in 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 valued at $1,278,000 after buying an additional 17 shares during the last quarter. Cedar Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 14.5% in the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. boosted its position in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 owns 13,699 shares in the company, valued at $8,397,760.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock worth $14,094,292. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TMO. TD Cowen raised their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price objective 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. Finally, Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $656.16.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $599.25 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock’s 50-day simple moving average is $607.88 and its 200 day simple moving average is $583.92. The company has a market cap of $228.91 billion, a P/E ratio of 37.17, a P/E/G ratio of 3.86 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.

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. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the business earned $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

About Thermo Fisher Scientific

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.