Insight Advisors LLC PA Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Insight Advisors LLC PA decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.6% during the 4th quarter, Holdings Channel reports. The fund owned 570 shares of the medical research company’s stock after selling 75 shares during the quarter. Insight Advisors LLC PA’s holdings in Thermo Fisher Scientific were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC boosted its stake 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 worth $4,872,761,000 after acquiring an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC increased its stake in Thermo Fisher Scientific by 1.7% in 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 purchasing an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Thermo Fisher Scientific by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $571.75 on Friday. The firm has a market capitalization of $218.70 billion, a PE ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The business has a 50-day moving average of $545.51 and a two-hundred day moving average of $571.95.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share 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%. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback program 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 programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 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 value of $175,677.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TMO shares. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Bernstein Bank raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Scotiabank upped their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average 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.