Empower Advisory Group LLC Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Empower Advisory Group LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,513 shares of the medical research company’s stock after selling 171 shares during the quarter. Empower Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $9,631,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TMO. International Assets Investment Management LLC boosted its stake in shares of Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. FMR LLC boosted its position in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $254,412,000. Lindsell Train Ltd bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $211,858,000. Finally, Franklin Resources Inc. grew its position in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Stephen Williamson sold 9,825 shares of the business’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 transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’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 transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. 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.

Thermo Fisher Scientific Trading Down 0.0 %

NYSE:TMO opened at $532.58 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The stock has a market cap of $203.71 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The company’s 50 day moving average price is $548.51 and its 200-day moving average price is $569.90. 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 (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%. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TMO. Raymond James reissued an “outperform” rating and set a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Bernstein Bank upped their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Citigroup increased 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. Finally, Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.