Thermo Fisher Scientific (NYSE:TMO) EVP Sells $216,480.00 in Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Thermo Fisher Scientific Trading Down 0.9%

NYSE TMO opened at $504.99 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm has a market cap of $189.73 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.94 and a beta of 0.93. The firm has a 50 day simple moving average of $585.45 and a 200-day simple moving average of $544.13. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $6.10 EPS. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of TMO. Howard Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 0.5% in the 4th quarter. Howard Capital Management Inc. now owns 3,091 shares of the medical research company’s stock valued at $1,791,000 after purchasing an additional 16 shares during the period. Petros Family Wealth LLC lifted its stake in Thermo Fisher Scientific by 3.9% in the fourth quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company’s stock valued at $264,000 after buying an additional 17 shares during the last quarter. Salomon & Ludwin LLC grew its position in shares of Thermo Fisher Scientific by 1.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,095 shares of the medical research company’s stock worth $669,000 after acquiring an additional 17 shares during the last quarter. Financial Management Network Inc. increased its holdings in shares of Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 18 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in Thermo Fisher Scientific by 1.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company’s stock worth $728,000 after purchasing an additional 18 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of analyst reports. TD Cowen reduced their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.