Essex Financial Services Inc. Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Essex Financial Services Inc. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,069 shares of the medical research company’s stock after selling 61 shares during the period. Essex Financial Services Inc.’s holdings in Thermo Fisher Scientific were worth $5,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in shares of Thermo Fisher Scientific by 6.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 44,387 shares of the medical research company’s stock worth $27,456,000 after buying an additional 2,870 shares during the period. Carret Asset Management LLC lifted its stake in Thermo Fisher Scientific by 2.3% in the third quarter. Carret Asset Management LLC now owns 7,965 shares of the medical research company’s stock worth $4,927,000 after acquiring an additional 178 shares during the period. Valley National Advisers Inc. grew its holdings in Thermo Fisher Scientific by 2,392.1% during the 3rd quarter. Valley National Advisers Inc. now owns 2,841 shares of the medical research company’s stock worth $1,756,000 after acquiring an additional 2,727 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Thermo Fisher Scientific by 40.9% in the 3rd quarter. Financial Management Professionals Inc. now owns 293 shares of the medical research company’s stock valued at $181,000 after purchasing an additional 85 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 4,681 shares of the medical research company’s stock valued at $2,896,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday. Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $554.38 on Friday. The stock has a 50-day moving average of $605.12 and a two-hundred day moving average of $584.00. 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 has a market cap of $211.77 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $420.21 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current 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.