Insider Selling: Thermo Fisher Scientific (NYSE:TMO) VP Sells $1,999,959.95 in Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) VP Lisa Britt sold 2,831 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $706.45, for a total transaction of $1,999,959.95. Following the completion of the transaction, the vice president directly owned 11,560 shares of the company’s stock, valued at $8,166,562. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $12.40 during trading hours on Friday, reaching $696.78. The company’s stock had a trading volume of 2,089,111 shares, compared to its average volume of 2,264,945. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $653.50 and a 200 day simple moving average of $552.54. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $711.85. The stock has a market cap of $257.63 billion, a PE ratio of 36.75, a PEG ratio of 2.87 and a beta of 0.87.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, topping the consensus estimate of $6.40 by $0.28. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $5.79 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 25.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TMO. TD Cowen upped their price objective on Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 9th. They issued an “outperform” rating on the stock. Barclays upped their price target on shares of Thermo Fisher Scientific from $750.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. CLSA started coverage on shares of Thermo Fisher Scientific in a research report on Thursday, September 3rd. They set an “outperform” rating and a C$748.00 price objective for the company. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $689.10.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently bought and sold shares of the stock. Bank OZK acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $1,096,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Thermo Fisher Scientific in the second quarter worth approximately $456,000. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $15,501,867,000. German American Bancorp Inc. purchased a new position in Thermo Fisher Scientific during the second quarter valued at approximately $4,920,000. Finally, Parallax Volatility Advisers L.P. purchased a new position in Thermo Fisher Scientific during the second quarter valued at approximately $814,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global supplier of laboratory products, analytical instruments, reagents, consumables, software and services used in scientific research, healthcare, pharmaceuticals, biotechnology and industrial applications. The company serves customers ranging from academic institutions and government agencies to hospitals, clinical laboratories and pharmaceutical manufacturers.

Its offerings include instruments and systems for genetic analysis, mass spectrometry, chromatography, electron microscopy and materials science, as well as molecular biology reagents, cell culture products, laboratory plastics and research chemicals.