Generate Investment Management Ltd Sells 8,191 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Generate Investment Management Ltd reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,974 shares of the medical research company’s stock after selling 8,191 shares during the quarter. Generate Investment Management Ltd’s holdings in Thermo Fisher Scientific were worth $8,310,000 at the end of the most recent quarter.

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

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s 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 sale, the chief executive officer now directly owns 111,192 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction 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 sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $571.44 on Friday. The firm has a market cap of $218.58 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 3.18 and a beta of 0.77. The firm’s fifty day moving average is $546.51 and its two-hundred day moving average is $571.95. 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 one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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 expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Wall Street Analysts Forecast Growth

TMO has been the subject of several recent research reports. Robert W. Baird reduced their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America decreased their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. UBS Group increased their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Royal Bank of Canada decreased their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus reduced their target price on 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 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.