Oakworth Capital Inc. Purchases 262 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Oakworth Capital Inc. grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,093 shares of the medical research company’s stock after acquiring an additional 262 shares during the quarter. Oakworth Capital Inc.’s holdings in Thermo Fisher Scientific were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares during the last quarter. FMR LLC boosted its position in shares of Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Franklin Resources Inc. boosted its position in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Thermo Fisher Scientific by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $581.72 on Thursday. The business’s 50-day moving average price is $545.51 and its two-hundred day moving average price is $571.95. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The stock has a market cap of $222.51 billion, a P/E ratio of 35.19, a PEG ratio of 4.06 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Raymond James reiterated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday. Finally, Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,125 shares of company stock valued at $16,207,439. Corporate insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.