Prossimo Advisors LLC Sells 115 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Prossimo Advisors LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,692 shares of the medical research company’s stock after selling 115 shares during the quarter. Prossimo Advisors LLC’s holdings in Thermo Fisher Scientific were worth $880,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TMO. Stonegate Investment Group LLC raised its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the period. Angeles Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after buying an additional 19 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Thermo Fisher Scientific by 0.8% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,429 shares of the medical research company’s stock valued at $1,502,000 after acquiring an additional 20 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.7 %

NYSE TMO opened at $522.91 on Wednesday. The firm has a market capitalization of $200.01 billion, a PE ratio of 31.63, a P/E/G ratio of 2.95 and a beta of 0.77. The stock’s 50 day moving average is $548.15 and its 200 day moving average is $568.62. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. 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 announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating 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%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at $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 20,125 shares of company stock worth $11,231,699 in the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. UBS Group raised their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Evercore ISI cut their price objective 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. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Scotiabank upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. 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 note on Friday, December 13th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.