Cornerstone Capital Lowers stake in Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific (TMO) : Cornerstone Capital reduced its stake in Thermo Fisher Scientific by 0.78% during the most recent quarter end. The investment management company now holds a total of 113,240 shares of Thermo Fisher Scientific which is valued at $16.7 Million after selling 890 shares in Thermo Fisher Scientific , the firm said in a disclosure report filed with the SEC on May 12, 2016.Thermo Fisher Scientific makes up approximately 3.72% of Cornerstone Capital’s portfolio.

Other Hedge Funds, Including , C M Bidwell Associates Ltd sold out all of its stake in TMO during the most recent quarter. The investment firm sold 33,505 shares of TMO which is valued $5 Million.Jennison Associates boosted its stake in TMO in the latest quarter, The investment management firm added 12,154 additional shares and now holds a total of 298,819 shares of Thermo Fisher Scientific which is valued at $43.9 Million. Thermo Fisher Scientific makes up approx 0.05% of Jennison Associates’s portfolio.Buffington Mohr Mcneal boosted its stake in TMO in the latest quarter, The investment management firm added 4,025 additional shares and now holds a total of 9,575 shares of Thermo Fisher Scientific which is valued at $1.4 Million. Thermo Fisher Scientific makes up approx 0.61% of Buffington Mohr Mcneal’s portfolio.

Thermo Fisher Scientific opened for trading at $149.35 and hit $150.31 on the upside on Friday, eventually ending the session at $148.85, with a gain of 0.29% or 0.43 points. The heightened volatility saw the trading volume jump to 14,20,931 shares. Company has a market cap of $58,574 M.

On the company’s financial health, Thermo Fisher Scientific reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.74. The company had revenue of $4294.80 million for the quarter, compared to analysts expectations of $4113.28 million. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.

Many Wall Street Analysts have commented on Thermo Fisher Scientific. Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 166 from a previous price target of $163 .Company shares were Reiterated by Mizuho on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 163 from a previous price target of $160 .Thermo Fisher Scientific was Downgraded by Jefferies to ” Hold” on Apr 29, 2016.

Thermo Fisher Scientific Inc. is a provider of analytical instruments equipment reagents and consumables software and services for research manufacturing analysis discovery and diagnostics. The company operates through four segments: Life Sciences Solutions provides reagents instruments and consumables used in biological and medical research discovery and production of new drugs and vaccines as well as diagnosis of disease; Analytical Instruments provides instruments consumables software and services that are used in the laboratory; Specialty Diagnostics offers diagnostic test kits reagents culture media instruments and associated products and Laboratory Products and Services offers self-manufactured and sourced products for the laboratory.

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