Panoramic Capital Partners LLC Acquires Shares of 420 Thermo Fisher Scientific Inc. (NYSE:TMO)

Panoramic Capital Partners LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 420 shares of the medical research company’s stock, valued at approximately $218,000.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a report on Friday, January 10th. Wells Fargo & Company raised their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Scotiabank upped their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Down 3.2 %

Thermo Fisher Scientific stock opened at $553.02 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. 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 50 day moving average price of $547.34 and a two-hundred day moving average price of $572.24. The firm has a market cap of $211.53 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued 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%. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

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.