Soltis Investment Advisors LLC Purchases 6,366 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Soltis Investment Advisors LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 505.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,626 shares of the medical research company’s stock after buying an additional 6,366 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the third quarter valued at about $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $571.44 on Monday. The company has a market capitalization of $218.58 billion, a PE ratio of 34.57, a PEG ratio of 3.18 and a beta of 0.77. The business has a fifty day moving average price of $547.34 and a 200-day moving average price of $572.26. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year 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.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback 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 buy up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 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. Insiders have sold a total of 20,125 shares of company stock valued at $11,231,699 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Scotiabank boosted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Raymond James reiterated an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

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.