Optimum Investment Advisors Sells 108 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

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Optimum Investment Advisors decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the third quarter, Holdings Channel.com reports. The fund owned 3,442 shares of the medical research company’s stock after selling 108 shares during the period. Optimum Investment Advisors’ holdings in Thermo Fisher Scientific were worth $1,003,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ipswich Investment Management Co. Inc. raised its stake in Thermo Fisher Scientific by 0.5% during the second quarter. Ipswich Investment Management Co. Inc. now owns 7,773 shares of the medical research company’s stock valued at $2,283,000 after purchasing an additional 35 shares in the last quarter. Landmark Bank raised its stake in Thermo Fisher Scientific by 0.3% during the third quarter. Landmark Bank now owns 13,623 shares of the medical research company’s stock valued at $3,968,000 after purchasing an additional 40 shares in the last quarter. V Wealth Advisors LLC raised its stake in Thermo Fisher Scientific by 0.9% during the second quarter. V Wealth Advisors LLC now owns 5,035 shares of the medical research company’s stock valued at $1,479,000 after purchasing an additional 46 shares in the last quarter. MBM Wealth Consultants LLC raised its stake in Thermo Fisher Scientific by 3.4% during the second quarter. MBM Wealth Consultants LLC now owns 1,401 shares of the medical research company’s stock valued at $415,000 after purchasing an additional 46 shares in the last quarter. Finally, CX Institutional raised its stake in Thermo Fisher Scientific by 37.7% during the third quarter. CX Institutional now owns 168 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Credit Suisse Group reissued a “buy” rating and issued a $310.00 target price on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. Barclays set a $330.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Monday, July 15th. ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC increased their target price on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $305.27.

In related news, Director Jim P. Manzi sold 1,833 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $272.93, for a total value of $500,280.69. Following the transaction, the director now owns 28,592 shares of the company’s stock, valued at approximately $7,803,614.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the completion of the transaction, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. In the last three months, insiders sold 54,104 shares of company stock worth $15,418,539. Insiders own 0.45% of the company’s stock.

Shares of TMO traded up $1.24 during midday trading on Friday, hitting $282.83. The stock had a trading volume of 34,316 shares, compared to its average volume of 1,629,543. Thermo Fisher Scientific Inc. has a 1 year low of $208.34 and a 1 year high of $305.45. The firm has a market cap of $114.54 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07. The stock’s 50 day moving average is $288.56 and its 200 day moving average is $281.26.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 12.25 earnings per share for the current fiscal year.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

See Also: Back-End Load

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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