Financial Advocates Investment Management Sells 1,499 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Financial Advocates Investment Management lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,236 shares of the medical research company’s stock after selling 1,499 shares during the period. Financial Advocates Investment Management’s holdings in Thermo Fisher Scientific were worth $1,163,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. AMF Tjanstepension AB bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $42,409,000. Brookstone Capital Management lifted its stake in Thermo Fisher Scientific by 3.1% during the third quarter. Brookstone Capital Management now owns 2,558 shares of the medical research company’s stock worth $1,582,000 after purchasing an additional 76 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 14.5% in the 3rd quarter. Daymark Wealth Partners LLC now owns 709 shares of the medical research company’s stock valued at $439,000 after purchasing an additional 90 shares during the last quarter. CWM LLC lifted its position in shares of Thermo Fisher Scientific by 91.3% during the 3rd quarter. CWM LLC now owns 35,114 shares of the medical research company’s stock worth $21,720,000 after buying an additional 16,756 shares during the last quarter. Finally, Wedmont Private Capital grew its position in Thermo Fisher Scientific by 14.2% in the third quarter. Wedmont Private Capital now owns 2,338 shares of the medical research company’s stock valued at $1,400,000 after acquiring an additional 291 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $571.44 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The stock’s 50 day moving average price is $546.51 and its two-hundred day moving average price is $571.95. The stock has a market capitalization of $218.58 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 4.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 net margin of 14.78% and a return on equity of 17.51%. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TMO shares. Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Raymond James reiterated an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock worth $11,231,699 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Profile

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.