Matrix Asset Advisors Inc. NY Reduces Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Matrix Asset Advisors Inc. NY decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,753 shares of the medical research company’s stock after selling 436 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Thermo Fisher Scientific were worth $12,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management lifted its holdings in shares of Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares in the last quarter. Leo Wealth LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth $1,117,000. BDF Gestion acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth $6,368,000. Aviance Capital Partners LLC lifted its position in shares of Thermo Fisher Scientific by 20.9% in the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after acquiring an additional 2,251 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TMO. Stephens began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $653.72.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last ninety days. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Up 0.5 %

NYSE TMO opened at $596.92 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The stock has a market cap of $228.02 billion, a P/E ratio of 37.03, a PEG ratio of 3.80 and a beta of 0.77. 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’s fifty day simple moving average is $607.73 and its 200-day simple moving average is $583.44.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 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 firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the business posted $5.15 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Company 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.