Biltmore Wealth Management LLC Reduces Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Biltmore Wealth Management LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,044 shares of the medical research company’s stock after selling 163 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.4% of Biltmore Wealth Management LLC’s holdings, making the stock its 15th largest holding. Biltmore Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $741,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TMO. Kessler Investment Group LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $33,000. Proffitt & Goodson Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $35,000. HWG Holdings LP acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $36,000. Investors Research Corp grew its stake in Thermo Fisher Scientific by 100.0% during the 2nd quarter. Investors Research Corp now owns 120 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Liberty One Investment Management LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

NYSE:TMO opened at $468.59 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $250.21 and a 12-month high of $473.84. The firm has a market capitalization of $185.37 billion, a P/E ratio of 50.71, a P/E/G ratio of 1.88 and a beta of 1.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.62 and a quick ratio of 2.02. The business has a 50 day simple moving average of $433.77 and a 200 day simple moving average of $378.29.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.67 by $1.22. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.91 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 15.27 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. SVB Leerink raised their price objective on Thermo Fisher Scientific from $455.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Cleveland Research upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 15th. Needham & Company LLC raised their price objective on Thermo Fisher Scientific from $468.00 to $477.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Citigroup raised their price objective on Thermo Fisher Scientific from $471.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Atlantic Securities began coverage on Thermo Fisher Scientific in a research note on Wednesday, September 30th. They set an “overweight” rating and a $494.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $452.27.

In other Thermo Fisher Scientific news, CAO Peter E. Hornstra sold 3,337 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $418.82, for a total transaction of $1,397,602.34. Following the sale, the chief accounting officer now owns 19,862 shares of the company’s stock, valued at approximately $8,318,602.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 20,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 27th. The shares were sold at an average price of $404.40, for a total value of $8,088,000.00. Following the sale, the chief executive officer now directly owns 260,446 shares in the company, valued at approximately $105,324,362.40. The disclosure for this sale can be found here. Insiders have sold a total of 173,868 shares of company stock worth $71,253,379 in the last ninety days. 0.44% of the stock is owned by company insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of new drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.

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

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