Ledyard National Bank Has $1.96 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ledyard National Bank raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,165 shares of the medical research company’s stock after acquiring an additional 132 shares during the period. Ledyard National Bank’s holdings in Thermo Fisher Scientific were worth $1,958,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TMO. Stewardship Advisors LLC bought a new position in Thermo Fisher Scientific during the 3rd quarter worth $267,000. Northwest Investment Counselors LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $194,000. Border to Coast Pensions Partnership Ltd boosted its stake in shares of Thermo Fisher Scientific by 8.9% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 83,608 shares of the medical research company’s stock valued at $51,566,000 after buying an additional 6,847 shares during the period. James Hambro & Partners LLP grew its position in Thermo Fisher Scientific by 5.7% during the third quarter. James Hambro & Partners LLP now owns 209,453 shares of the medical research company’s stock worth $129,524,000 after buying an additional 11,276 shares in the last quarter. Finally, Castleview Partners LLC raised its holdings in Thermo Fisher Scientific by 2.2% in the 3rd quarter. Castleview Partners LLC now owns 1,656 shares of the medical research company’s stock valued at $1,024,000 after acquiring an additional 36 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of Thermo Fisher Scientific stock opened at $595.35 on Tuesday. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a market capitalization of $227.42 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 3.85 and a beta of 0.77. The stock has a fifty day simple moving average of $607.91 and a 200 day simple moving average of $584.40. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

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 the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. During the same period in the prior year, the company posted $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Evercore ISI increased their target price on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $656.16.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 in the last quarter. Insiders own 0.34% of the company’s stock.

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.