Sound Shore Management Inc. CT Sells 5,938 Shares of Thermo Fisher Scientific Inc. (TMO)

Sound Shore Management Inc. CT trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,728 shares of the medical research company’s stock after selling 5,938 shares during the period. Thermo Fisher Scientific comprises approximately 2.7% of Sound Shore Management Inc. CT’s holdings, making the stock its 19th biggest holding. Sound Shore Management Inc. CT’s holdings in Thermo Fisher Scientific were worth $140,891,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Financial Planning LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $27,000. Hanson McClain Inc. grew its stake in Thermo Fisher Scientific by 263.9% in the 4th quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock worth $29,000 after acquiring an additional 95 shares during the period. Truvestments Capital LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $29,000. Capital Investment Advisory Services LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $35,000. Finally, Liberty Wealth Management LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $35,000. 88.39% of the stock is owned by institutional investors and hedge funds.

Shares of TMO opened at $261.73 on Friday. The firm has a market capitalization of $106.80 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.75 and a beta of 1.11. Thermo Fisher Scientific Inc. has a fifty-two week low of $202.83 and a fifty-two week high of $282.98. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.61.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.07. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.04 billion. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. Thermo Fisher Scientific’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.50 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 12.19 earnings per share for the current fiscal year.

Several research firms have commented on TMO. Argus lifted their target price on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $264.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $312.00 target price for the company in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $312.00 target price (up from $271.00) on shares of Thermo Fisher Scientific in a research note on Monday, April 22nd. Finally, Deutsche Bank lifted their target price on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $293.77.

In other Thermo Fisher Scientific news, SVP Gregory J. Herrema sold 5,400 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $251.51, for a total value of $1,358,154.00. Following the transaction, the senior vice president now owns 31,846 shares in the company, valued at approximately $8,009,587.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 50,713 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the completion of the transaction, the chief executive officer now owns 302,193 shares in the company, valued at approximately $82,562,149.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,720 shares of company stock worth $21,763,423. 0.45% of the stock is owned by company insiders.

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Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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