Solstein Capital LLC Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Solstein Capital LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,581 shares of the medical research company’s stock after selling 74 shares during the period. Thermo Fisher Scientific accounts for about 1.4% of Solstein Capital LLC’s investment portfolio, making the stock its 18th largest holding. Solstein Capital LLC’s holdings in Thermo Fisher Scientific were worth $2,834,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC lifted 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 valued at $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC raised its holdings in Thermo Fisher Scientific by 116.0% in the second 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 in the first quarter worth about $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific in the second quarter worth about $33,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TMO shares. Bank of America lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. TD Cowen lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein decreased their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stephens assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

TMO opened at $557.92 on Monday. The firm has a market cap of $213.13 billion, a P/E ratio of 34.98, a PEG ratio of 3.61 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $437.26 and a 1-year high of $627.88. The company has a 50 day simple moving average of $599.39 and a two-hundred day simple moving average of $583.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $5.69 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,300 shares of company stock worth $6,831,268 over the last three months. 0.34% of the stock is currently owned by company insiders.

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.