Spinnaker Trust Has $5.52 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Spinnaker Trust increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,609 shares of the medical research company’s stock after buying an additional 336 shares during the period. Spinnaker Trust’s holdings in Thermo Fisher Scientific were worth $5,519,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TMO. PUREfi Wealth LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $203,000. Quadrant Private Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 2.7% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 1,425 shares of the medical research company’s stock worth $742,000 after purchasing an additional 38 shares during the period. PICTET BANK & TRUST Ltd lifted its position in shares of Thermo Fisher Scientific by 4.4% in the 4th quarter. PICTET BANK & TRUST Ltd now owns 3,311 shares of the medical research company’s stock worth $1,722,000 after purchasing an additional 140 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock worth $79,677,000 after purchasing an additional 461 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $196,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’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 sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 27,296 shares in the company, 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. Insiders have sold a total of 20,125 shares of company stock valued at $11,231,699 over the last three months. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective 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. Scotiabank lifted their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Finally, TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $532.58 on Friday. The company’s 50-day moving average is $548.45 and its 200 day moving average is $571.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market capitalization of $203.71 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback 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 purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.