WASHINGTON TRUST Co Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

WASHINGTON TRUST Co lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,543 shares of the medical research company’s stock after selling 2,018 shares during the quarter. Thermo Fisher Scientific accounts for 2.2% of WASHINGTON TRUST Co’s portfolio, making the stock its 13th largest position. WASHINGTON TRUST Co’s holdings in Thermo Fisher Scientific were worth $62,193,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after purchasing an additional 1,414,556 shares during the last quarter. Capital World Investors raised its holdings in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB bought a new position in shares of Thermo Fisher Scientific in the 1st quarter worth about $705,636,000. Ameriprise Financial Inc. grew its position in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after acquiring an additional 296,646 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $6.25 during midday trading on Wednesday, reaching $554.02. The company’s stock had a trading volume of 289,519 shares, compared to its average volume of 1,460,948. The company has a market cap of $211.64 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $433.15 and a one year high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $602.70 and a 200 day moving average price of $583.80.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.69 EPS. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Barclays lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $649.33.

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.