Huntington National Bank lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.3% during the second quarter, Holdings Channel reports. The fund owned 104,295 shares of the company’s stock after selling 49,710 shares during the period. Huntington National Bank’s holdings in Thermo Fisher Scientific were worth $15,410,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $32,053,000. Carmignac Gestion boosted its stake in shares of Thermo Fisher Scientific by 23.3% in the second quarter. Carmignac Gestion now owns 4,046,550 shares of the company’s stock valued at $597,918,000 after buying an additional 763,421 shares during the last quarter. Bellevue Group AG purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at approximately $2,832,000. Artemis Investment Management LLP boosted its stake in shares of Thermo Fisher Scientific by 54.6% in the second quarter. Artemis Investment Management LLP now owns 172,789 shares of the company’s stock valued at $25,530,000 after buying an additional 61,046 shares during the last quarter. Finally, Puplava Financial Services Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.8% in the second quarter. Puplava Financial Services Inc. now owns 8,819 shares of the company’s stock valued at $1,303,000 after buying an additional 71 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Inc. (NYSE:TMO) traded down 0.63% during midday trading on Wednesday, hitting $153.93. 814,055 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 firm has a market capitalization of $60.69 billion, a PE ratio of 30.79 and a beta of 0.97. The stock’s 50-day moving average is $153.50 and its 200-day moving average is $150.90.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, July 28th. The company reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.02. Thermo Fisher Scientific had a net margin of 11.35% and a return on equity of 14.70%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Thermo Fisher Scientific’s revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post $8.17 EPS for the current fiscal year.
Several equities research analysts recently commented on TMO shares. Cleveland Research cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Bank of America Corp. set a $180.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Friday, October 7th. JPMorgan Chase & Co. started 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 target on the stock. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Wednesday, July 20th. Finally, Citigroup Inc. lifted their price target on shares of Thermo Fisher Scientific from $160.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $162.72.
In related news, CEO Marc N. Casper sold 28,797 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $151.01, for a total value of $4,348,634.97. Following the transaction, the chief executive officer now directly owns 307,444 shares in the company, valued at $46,427,118.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $151.17, for a total transaction of $4,535,100.00. Following the completion of the transaction, the chief executive officer now owns 308,647 shares in the company, valued at $46,658,166.99. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific Company Profile
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.