Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Lowered by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 664,612 shares of the medical research company’s stock after selling 10,559 shares during the period. Rhumbline Advisers owned about 0.17% of Thermo Fisher Scientific worth $345,751,000 at the end of the most recent reporting period.

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

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $532.58 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market cap of $203.71 billion, a P/E ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The company has a fifty day moving average price of $548.45 and a 200 day moving average price of $571.01. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released 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 net margin of 14.78% and a return on equity of 17.51%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Bernstein Bank upped their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific 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 sale, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $11,231,699 over the last ninety days. 0.34% of the stock is owned by company insiders.

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.