Insider Selling: Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Sells 300 Shares of Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Gianluca Pettiti sold 300 shares of the company’s 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 $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Thermo Fisher Scientific Stock Down 0.2 %

Shares of TMO stock opened at $571.44 on Friday. The stock has a 50 day moving average of $546.51 and a 200-day moving average of $571.95. The firm has a market cap of $218.58 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 3.18 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 Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping 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 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently modified their holdings of TMO. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after acquiring an additional 127,564 shares during the period. Coldstream Capital Management Inc. lifted its stake in Thermo Fisher Scientific by 11.4% during the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after purchasing an additional 995 shares during the period. Greenwood Gearhart Inc. grew its stake in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after purchasing an additional 1,837 shares during the period. Nordea Investment Management AB lifted its position in shares of Thermo Fisher Scientific by 23.6% during the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC raised its stake in Thermo Fisher Scientific by 6.2% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after acquiring an additional 618 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective 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. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company increased their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Company 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.