Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,642 shares of the medical research company’s stock after selling 70 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TigerOak Management L.L.C. acquired a new position in Thermo Fisher Scientific during the fourth quarter worth about $1,170,000. Roxbury Financial LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $153,000. Guyasuta Investment Advisors Inc. raised its holdings in shares of Thermo Fisher Scientific by 1.8% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 105,664 shares of the medical research company’s stock worth $54,970,000 after purchasing an additional 1,821 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in Thermo Fisher Scientific by 33.4% during the fourth quarter. Aveo Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $640,000 after buying an additional 308 shares in the last quarter. Finally, Accretive Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 381.7% in the fourth quarter. Accretive Wealth Partners LLC now owns 2,876 shares of the medical research company’s stock valued at $1,496,000 after buying an additional 2,279 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen Williamson sold 9,825 shares of the business’s 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 transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TMO has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Evercore ISI dropped their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. 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. Finally, UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $532.58 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market cap of $203.71 billion, a PE ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The firm’s 50 day moving average price is $548.51 and its 200 day moving average price is $570.52. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly 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%. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock 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 reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.