15,095 Thermo Fisher Scientific Inc. $TMO Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Thermo Fisher Scientific holdings by 65.6% in the third quarter, selling 15,095 shares and retaining 7,904 shares valued at about $5.34 million.
• Thermo Fisher reported quarterly earnings of $6.68 per share, beating the $6.40 consensus estimate; revenue of $12.14 billion was up 9.1% year over year and also topped expectations.
• Analyst sentiment was broadly positive: MarketBeat reported a “Moderate Buy” consensus rating and an average price target of $689.10, based on 20 Buy or Strong Buy ratings among 25 analysts.

Bank Julius Baer & Co. Ltd Zurich cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 65.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,904 shares of the medical research company's stock after selling 15,095 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Thermo Fisher Scientific were worth $5,344,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TMO. Virtue Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 22.3% in the third quarter. Virtue Capital Management LLC now owns 659 shares of the medical research company's stock worth $445,000 after acquiring an additional 120 shares during the last quarter. Nippon Life Global Investors Americas Inc. grew its stake in shares of Thermo Fisher Scientific by 31.1% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 19,160 shares of the medical research company's stock valued at $12,942,000 after purchasing an additional 4,550 shares during the last quarter. Columbia Bank grew its stake in shares of Thermo Fisher Scientific by 3.7% during the third quarter. Columbia Bank now owns 6,401 shares of the medical research company's stock valued at $4,321,000 after purchasing an additional 227 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $80,486,000. Finally, Aviance Capital Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 14,936 shares of the medical research company's stock valued at $10,083,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on TMO shares. Scotiabank assumed coverage on Thermo Fisher Scientific in a report on Wednesday, September 9th. They set an "outperform" rating on the stock. BMO Capital Markets cut Thermo Fisher Scientific to a "market perform" rating in a research note on Wednesday, September 9th. Weiss Ratings upgraded Thermo Fisher Scientific from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $650.00 to $730.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Finally, HSBC upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $689.10.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $698.24 on Wednesday. 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 firm has a market capitalization of $258.71 billion, a P/E ratio of 36.83, a PEG ratio of 2.78 and a beta of 0.84. The business has a 50-day moving average of $657.33 and a 200-day moving average of $553.71. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $711.85.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share for the quarter, beating analysts' consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a net margin of 14.94% and a return on equity of 17.33%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same period last year, the company posted $5.79 EPS. Thermo Fisher Scientific's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 25.26 EPS for the current year.

Insider Activity

In related news, CEO Marc N. Casper sold 275 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $627.05, for a total transaction of $172,438.75. Following the sale, the chief executive officer owned 123,925 shares of the company's stock, valued at approximately $77,707,171.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 2,831 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $706.45, for a total value of $1,999,959.95. Following the transaction, the vice president owned 11,560 shares in the company, valued at approximately $8,166,562. This represents a 19.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 76,199 shares of company stock worth $45,896,780 over the last three months. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Company Profile

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.

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