Spinnaker Trust Buys 336 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Spinnaker Trust increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 10,609 shares of the medical research company’s stock after purchasing an additional 336 shares during the quarter. Spinnaker Trust’s holdings in Thermo Fisher Scientific were worth $5,519,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $28,000. Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. UBS Group increased their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Sanford C. Bernstein raised 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. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $532.58 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $203.71 billion, a P/E ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. The business has a fifty day simple moving average of $548.45 and a two-hundred day simple moving average of $571.01. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 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 authorized a stock repurchase plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign 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.