PICTET BANK & TRUST Ltd Has $1.72 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

PICTET BANK & TRUST Ltd grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,311 shares of the medical research company’s stock after buying an additional 140 shares during the period. Thermo Fisher Scientific comprises about 1.7% of PICTET BANK & TRUST Ltd’s portfolio, making the stock its 20th biggest holding. PICTET BANK & TRUST Ltd’s holdings in Thermo Fisher Scientific were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of TMO. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $30,000. 89.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 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 transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $532.58 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market cap of $203.71 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. The company has a 50 day simple moving average of $548.45 and a 200 day simple moving average of $571.01.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TMO shares. Wells Fargo & Company upped their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Bernstein Bank upped their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $658.00.

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.