2,793 Thermo Fisher Scientific Inc. $TMO Shares Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd. cut its Thermo Fisher Scientific position by 16.6% in the third quarter, selling 2,793 shares and retaining 13,994 shares valued at approximately $9.45 million.
• Thermo Fisher reported quarterly EPS of $6.68, beating estimates of $6.40, while revenue rose 9.1% year over year to $12.14 billion. The stock was trading near its 12-month high at $704.41.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $684.55, although some firms recently downgraded the shares to “Hold” or “Market Perform.”

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,994 shares of the medical research company's stock after selling 2,793 shares during the period. Thermo Fisher Scientific accounts for 1.2% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's investment portfolio, making the stock its 23rd biggest holding. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings in Thermo Fisher Scientific were worth $9,447,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $15,501,867,000. Corient Private Wealth LP purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $382,547,000. Bank of New York Mellon Corp purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $1,974,561,000. Bank of America Corp DE bought a new stake in Thermo Fisher Scientific during the second quarter worth $1,952,930,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,239,625,000 after acquiring an additional 22,827 shares during the period. Institutional investors own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 25,500 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total value of $15,300,000.00. Following the sale, the executive vice president directly owned 20,994 shares in the company, valued at approximately $12,596,400. The trade was a 54.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the sale, the vice president directly owned 14,784 shares in the company, valued at approximately $9,064,366.08. This trade represents a 43.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,368 shares of company stock worth $43,896,820 over the last 90 days. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Up 1.6%

NYSE:TMO opened at $704.41 on Thursday. 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 stock has a market capitalization of $260.45 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87. The firm's 50 day moving average is $651.61 and its 200 day moving average is $552.09. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $710.84.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The medical research company reported $6.68 EPS for the quarter, beating the consensus estimate of $6.40 by $0.28. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the business earned $5.79 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 25.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. DZ Bank cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. BMO Capital Markets lowered Thermo Fisher Scientific to a "market perform" rating in a research report on Wednesday, September 9th. Royal Bank Of Canada lifted their target price on Thermo Fisher Scientific from $580.00 to $730.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 22nd. Evercore set a $570.00 price target on shares of Thermo Fisher Scientific in a report on Monday, July 6th. Finally, Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $650.00 to $730.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $684.55.

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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