Allspring Global Investments Holdings LLC Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Allspring Global Investments Holdings LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,253 shares of the medical research company’s stock after selling 26,657 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Thermo Fisher Scientific were worth $61,273,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TMO. Geode Capital Management LLC raised 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 in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after acquiring an additional 995 shares in the last quarter. Greenwood Gearhart Inc. raised its holdings in shares of Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after acquiring an additional 1,837 shares in the last quarter. Nordea Investment Management AB raised its holdings 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 acquiring an additional 10,606 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in shares of Thermo Fisher Scientific by 6.2% during the 4th 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 owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TMO shares. Raymond James reaffirmed an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America cut their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. 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 a consensus rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Price Performance

TMO opened at $532.63 on Friday. The company has a market capitalization of $203.73 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 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. The business’s fifty day simple moving average is $548.21 and its 200-day simple moving average is $571.28.

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 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%. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

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.