Martin Investment Management Lowers stake in Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific (TMO) : Martin Investment Management reduced its stake in Thermo Fisher Scientific by 2.26% during the most recent quarter end. The investment management company now holds a total of 166,707 shares of Thermo Fisher Scientific which is valued at $24,654,298 after selling 3,856 shares in Thermo Fisher Scientific , the firm said in a disclosure report filed with the SEC on May 10, 2016.Thermo Fisher Scientific makes up approximately 3.94% of Martin Investment Management’s portfolio.

Other Hedge Funds, Including , Spero-smith Investment Advisers Inc Oh boosted its stake in TMO in the latest quarter, The investment management firm added 205 additional shares and now holds a total of 14,492 shares of Thermo Fisher Scientific which is valued at $2,129,889. Thermo Fisher Scientific makes up approx 2.68% of Spero-smith Investment Advisers Inc Oh’s portfolio.Payden Rygel reduced its stake in TMO by selling 74 shares or 9.56% in the most recent quarter. The Hedge Fund company now holds 700 shares of TMO which is valued at $102,879. Thermo Fisher Scientific makes up approx 0.01% of Payden Rygel’s portfolio. Thompson Davis added TMO to its portfolio by purchasing 130 company shares during the most recent quarter which is valued at $19,106. Thermo Fisher Scientific makes up approx 0.03% of Thompson Davis’s portfolio.

Thermo Fisher Scientific opened for trading at $147.9 and hit $150.43 on the upside on Monday, eventually ending the session at $150.24, with a gain of 1.59% or 2.35 points. The heightened volatility saw the trading volume jump to 14,73,044 shares. Company has a market cap of $59,121 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 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. Company shares were Reiterated by Mizuho on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .

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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