Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Lowered by Legato Capital Management LLC

Legato Capital Management LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,982 shares of the medical research company’s stock after selling 636 shares during the period. Legato Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $1,551,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes 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 stake in Thermo Fisher Scientific in the third quarter worth about $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 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 $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock valued at $11,231,699 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $538.31 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company’s fifty day moving average is $548.02 and its 200-day moving average is $571.52. The firm has a market cap of $205.90 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77.

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

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TMO shares. Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Citigroup boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Scotiabank boosted 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 report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.