Pittenger & Anderson Inc. Has $768,000 Stock Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Pittenger & Anderson Inc. significantly reduced its stake in Thermo Fisher Scientific by 91.2%, now holding a position worth $768,000 after selling 19,736 shares.
• In recent activities, CEO Marc N. Casper sold 10,000 shares for approximately $5 million, resulting in a 7.99% decrease in his holdings, while insiders collectively sold shares valued at over $14 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Thermo Fisher Scientific, with an average price target of $581.72 amidst recent price target adjustments from various financial institutions.

Pittenger & Anderson Inc. decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 91.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,893 shares of the medical research company's stock after selling 19,736 shares during the period. Pittenger & Anderson Inc.'s holdings in Thermo Fisher Scientific were worth $768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mondrian Investment Partners LTD raised its holdings in Thermo Fisher Scientific by 146.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company's stock worth $106,738,000 after purchasing an additional 127,357 shares during the last quarter. Caledonia Investments PLC raised its holdings in Thermo Fisher Scientific by 11.5% during the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company's stock worth $45,299,000 after purchasing an additional 11,500 shares during the last quarter. Foresight Group Ltd Liability Partnership raised its holdings in Thermo Fisher Scientific by 3,242.7% during the 1st quarter. Foresight Group Ltd Liability Partnership now owns 58,497 shares of the medical research company's stock worth $29,113,000 after purchasing an additional 56,747 shares during the last quarter. Advisors Capital Management LLC raised its holdings in Thermo Fisher Scientific by 6.7% during the 1st quarter. Advisors Capital Management LLC now owns 127,011 shares of the medical research company's stock worth $63,201,000 after purchasing an additional 7,967 shares during the last quarter. Finally, New England Research & Management Inc. raised its holdings in Thermo Fisher Scientific by 28.6% during the 2nd quarter. New England Research & Management Inc. now owns 2,548 shares of the medical research company's stock worth $1,033,000 after purchasing an additional 567 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $500.96, for a total transaction of $5,009,600.00. Following the completion of the transaction, the chief executive officer owned 115,174 shares of the company's stock, valued at $57,697,567.04. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,066 shares of company stock valued at $14,182,963 in the last quarter. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $559.48 on Wednesday. The business has a 50 day simple moving average of $499.00 and a 200 day simple moving average of $450.49. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The stock has a market cap of $211.27 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 3.14 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the prior year, the business earned $5.37 EPS. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TMO has been the subject of several recent research reports. UBS Group boosted their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada set a $561.00 price target on Thermo Fisher Scientific and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a research note on Wednesday, October 8th. Hsbc Global Res cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, HSBC reaffirmed a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Fifteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $581.72.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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