Focus Financial Network Inc. Sells 134 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Focus Financial Network Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the third quarter, HoldingsChannel reports. The fund owned 3,784 shares of the medical research company’s stock after selling 134 shares during the period. Focus Financial Network Inc.’s holdings in Thermo Fisher Scientific were worth $2,342,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signature Resources Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific during the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of analyst reports. Stephens initiated 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. Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Sanford C. Bernstein reduced their price target 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. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $557.92 on Friday. 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 firm’s fifty day moving average price is $599.39 and its two-hundred day moving average price is $583.31. Thermo Fisher Scientific Inc. has a 1 year low of $437.26 and a 1 year high of $627.88. The firm has a market capitalization of $213.13 billion, a P/E ratio of 34.98, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for 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 firm earned $5.69 earnings per share. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,300 shares of company stock valued at $6,831,268 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.