Conning Inc. Sells 1,711 Shares of Thermo Fisher Scientific Inc. $TMO

Conning Inc. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,155 shares of the medical research company’s stock after selling 1,711 shares during the quarter. Conning Inc.’s holdings in Thermo Fisher Scientific were worth $6,855,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TMO. BlackRock Inc. acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $15,501,867,000. Corient Private Wealth LP acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $382,547,000. Bank of New York Mellon Corp acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $1,974,561,000. Bank of America Corp DE acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $1,952,930,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Thermo Fisher Scientific by 0.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,472,524 shares of the medical research company’s stock valued at $1,239,625,000 after purchasing an additional 22,827 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. CLSA initiated coverage on Thermo Fisher Scientific in a research report on Thursday, September 3rd. They issued an “outperform” rating and a C$748.00 price target for the company. Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $720.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 25th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $684.55.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $704.41 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.41 and a current ratio of 1.81. Thermo Fisher Scientific Inc. has a twelve month low of $435.27 and a twelve month high of $710.84. The firm’s 50 day moving average price is $651.61 and its 200 day moving average price is $552.09. The firm has a market cap of $260.45 billion, a PE ratio of 37.15, a PEG ratio of 2.75 and a beta of 0.87.

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

Insider Activity

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total value of $7,014,092.80. Following the sale, the vice president owned 14,784 shares of the company’s stock, valued at $9,064,366.08. This trade represents a 43.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 420 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $584.81, for a total value of $245,620.20. Following the transaction, the chief accounting officer owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. This trade represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,368 shares of company stock valued at $43,896,820 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.