Meridiem Investment Management Ltd. Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Meridiem Investment Management Ltd. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 552,301 shares of the medical research company’s stock after selling 5,832 shares during the quarter. Thermo Fisher Scientific comprises 6.1% of Meridiem Investment Management Ltd.’s portfolio, making the stock its 3rd largest position. Meridiem Investment Management Ltd. owned approximately 0.14% of Thermo Fisher Scientific worth $341,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Beaumont Financial Advisors LLC raised its position in shares of Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares during the last quarter. Cedar Wealth Management LLC lifted its position in Thermo Fisher Scientific by 14.5% during the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the period. Lafayette Investments Inc. grew its position in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the period. IFG Advisors LLC lifted its holdings in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after buying an additional 17 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its holdings in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after acquiring an additional 18 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

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

Thermo Fisher Scientific Stock Up 0.4 %

Shares of NYSE:TMO traded up $2.46 during trading on Friday, hitting $601.71. 1,081,607 shares of the company were exchanged, compared to its average volume of 1,466,903. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. 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 firm has a fifty day moving average price of $607.99 and a two-hundred day moving average price of $584.09. The stock has a market cap of $229.85 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 3.86 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping 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 period in the previous year, the business earned $5.15 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TMO has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. TD Cowen upped their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research report on Tuesday. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Four investment 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. According to MarketBeat, Thermo Fisher Scientific 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.