North Star Asset Management Inc. held its position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the second quarter, Holdings Channel reports. The institutional investor owned 45,357 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $6,422,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Catawba Capital Management VA increased its position in Thermo Fisher Scientific by 9.3% in the second quarter. Catawba Capital Management VA now owns 1,642 shares of the company’s stock worth $243,000 after buying an additional 140 shares during the period. Alpha Windward LLC increased its position in Thermo Fisher Scientific by 21.3% in the second quarter. Alpha Windward LLC now owns 1,836 shares of the company’s stock worth $271,000 after buying an additional 322 shares during the period. Parametrica Management Ltd bought a new position in Thermo Fisher Scientific during the second quarter worth $271,000. Park Avenue Securities LLC bought a new position in Thermo Fisher Scientific during the second quarter worth $284,000. Finally, Nikko Asset Management Americas Inc. increased its position in Thermo Fisher Scientific by 4.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,200 shares of the company’s stock worth $310,000 after buying an additional 100 shares during the period. 87.38% of the stock is currently owned by institutional investors.
Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) traded down 0.15% during midday trading on Friday, reaching $158.21. 1,066,343 shares of the company traded hands. Thermo Fisher Scientific Inc. has a 12-month low of $119.75 and a 12-month high of $160.68. The company has a 50-day moving average of $153.18 and a 200 day moving average of $150.42. The firm has a market capitalization of $62.38 billion, a PE ratio of 31.65 and a beta of 0.97.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, July 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.02. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.50 billion. Thermo Fisher Scientific had a net margin of 11.35% and a return on equity of 14.70%. Thermo Fisher Scientific’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post $8.17 earnings per share for the current year.
A number of research firms have recently weighed in on TMO. BTIG Research raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Friday, July 22nd. Citigroup Inc. increased their price target on Thermo Fisher Scientific from $160.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Jefferies Group reissued a “hold” rating on shares of Thermo Fisher Scientific in a research note on Thursday, August 4th. JPMorgan Chase & Co. began coverage on shares of Thermo Fisher Scientific in a research report on Thursday, September 22nd. They issued an “overweight” rating and a $180.00 price objective for the company. Finally, Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $162.72.
In related news, Director C Martin Harris sold 390 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $157.33, for a total value of $61,358.70. Following the transaction, the director now owns 4,648 shares in the company, valued at $731,269.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Thomas W. Loewald sold 8,025 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $155.00, for a total transaction of $1,243,875.00. Following the completion of the transaction, the senior vice president now owns 52,194 shares in the company, valued at approximately $8,090,070. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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