Robertson Stephens Wealth Management LLC Sells 1,922 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Robertson Stephens Wealth Management LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,954 shares of the medical research company’s stock after selling 1,922 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $3,620,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific during the third quarter valued at about $27,000. Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific during the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at about $43,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.8 %

Shares of TMO opened at $571.75 on Friday. The firm’s 50 day simple moving average is $545.51 and its 200 day simple moving average is $571.95. The company has a market capitalization of $218.70 billion, a P/E ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its 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%. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday. 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 research report on Friday, January 10th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

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.