Professional Advisory Services Inc. Sells 1,101 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Professional Advisory Services Inc. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,489 shares of the medical research company’s stock after selling 1,101 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.9% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 18th largest position. Professional Advisory Services Inc.’s holdings in Thermo Fisher Scientific were worth $21,952,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its stake in shares of Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after acquiring an additional 3,142 shares in the last quarter. BDF Gestion bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $6,368,000. Aviance Capital Partners LLC increased its stake in Thermo Fisher Scientific by 20.9% during the 1st quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after purchasing an additional 2,251 shares in the last quarter. Lord Abbett & CO. LLC increased its stake 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 valued at $45,478,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Advisors Capital Management LLC increased its stake in Thermo Fisher Scientific by 5.8% during the 1st quarter. Advisors Capital Management LLC now owns 111,169 shares of the medical research company’s stock valued at $64,613,000 after purchasing an additional 6,089 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $599.25 on Friday. The company’s 50 day moving average is $607.88 and its 200-day moving average is $583.92. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market cap of $228.91 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the firm posted $5.15 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TMO shares. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $656.16.

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.