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 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 $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Thermo Fisher Scientific Stock Up 0.2 %

NYSE TMO opened at $581.72 on Thursday. The stock has a market cap of $222.51 billion, a PE ratio of 35.19, a P/E/G ratio of 4.06 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. The business has a 50 day moving average price of $544.31 and a two-hundred day moving average price of $571.88. 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 (NYSE:TMO) last released 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 return on equity of 17.51% and a net margin of 14.78%. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after acquiring an additional 124,996 shares in the last quarter. FMR LLC raised its position in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $4,719,477,000 after acquiring an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Thermo Fisher Scientific by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,665,902 shares of the medical research company’s stock valued at $1,386,883,000 after acquiring an additional 29,344 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TMO shares. Bank of America lowered their price objective on shares of 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. Raymond James restated an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday. Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Finally, UBS Group boosted their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.