SeaBridge Investment Advisors LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,030 shares of the medical research company’s stock after selling 688 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Seven Eight Capital LP increased its stake in Thermo Fisher Scientific by 241.8% during the 3rd quarter. Seven Eight Capital LP now owns 64,600 shares of the medical research company’s stock worth $15,768,000 after buying an additional 45,700 shares during the period. Huntington National Bank increased its stake in Thermo Fisher Scientific by 5.5% during the 3rd quarter. Huntington National Bank now owns 222,745 shares of the medical research company’s stock worth $54,368,000 after buying an additional 11,570 shares during the period. Oakbrook Investments LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $305,000. Aperio Group LLC increased its stake in Thermo Fisher Scientific by 1.0% during the 3rd quarter. Aperio Group LLC now owns 397,207 shares of the medical research company’s stock worth $96,950,000 after buying an additional 4,078 shares during the period. Finally, Highland Capital Management LLC increased its stake in Thermo Fisher Scientific by 8.2% during the 3rd quarter. Highland Capital Management LLC now owns 42,636 shares of the medical research company’s stock worth $10,407,000 after buying an additional 3,236 shares during the period. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Patrick M. Durbin sold 20,550 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total value of $4,806,028.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,070 shares of company stock valued at $47,569,729. Company insiders own 0.49% of the company’s stock.

Shares of NYSE:TMO traded down $3.24 during trading hours on Friday, reaching $226.47. The stock had a trading volume of 59,333 shares, compared to its average volume of 1,533,684. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $249.95. The company has a current ratio of 1.58, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67. The company has a market cap of $94.52 billion, a PE ratio of 24.29, a P/E/G ratio of 1.71 and a beta of 1.12.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the firm posted $2.30 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 10.99 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Friday, September 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Several brokerages recently weighed in on TMO. Cleveland Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $242.00 to $254.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. UBS Group assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective on the stock in a research report on Monday, October 1st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $259.91.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics 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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