Tobam Has $216,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Tobam lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 22.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 416 shares of the medical research company’s stock after selling 121 shares during the period. Tobam’s holdings in Thermo Fisher Scientific were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairvoy Private Wealth LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $2,297,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Thermo Fisher Scientific by 2.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,588 shares of the medical research company’s stock valued at $28,919,000 after acquiring an additional 1,213 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,119,017 shares of the medical research company’s stock worth $582,146,000 after acquiring an additional 14,576 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $127,742,000. Finally, Leo Wealth LLC lifted its stake in Thermo Fisher Scientific by 1.5% in the 4th quarter. Leo Wealth LLC now owns 1,946 shares of the medical research company’s stock valued at $1,012,000 after purchasing an additional 29 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 0.2 %

NYSE:TMO opened at $571.44 on Friday. The firm has a fifty day simple moving average of $546.51 and a two-hundred day simple moving average of $571.95. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a market capitalization of $218.58 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TMO. Citigroup upped their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Evercore ISI dropped their target price on 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. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities 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, the company has an average 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.