Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lifted by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,856 shares of the medical research company’s stock after purchasing an additional 79,555 shares during the period. Thermo Fisher Scientific comprises approximately 5.9% of Meridiem Investment Management Ltd.’s investment portfolio, making the stock its 3rd largest holding. Meridiem Investment Management Ltd.’s holdings in Thermo Fisher Scientific were worth $328,719,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $30,000. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, 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 report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock worth $11,231,699 over the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $532.58 on Monday. The stock’s 50-day moving average is $548.51 and its 200 day moving average is $570.21. The stock has a market cap of $203.71 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. 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 (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 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, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

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.