Focus Financial Network Inc. Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Focus Financial Network Inc. cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,732 shares of the medical research company’s stock after selling 52 shares during the period. Focus Financial Network Inc.’s holdings in Thermo Fisher Scientific were worth $1,943,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TMO. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific in the third quarter worth about $27,000. Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific in the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $30,000. 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 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. The trade was a 26.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’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 owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $545.27 on Wednesday. The company has a market cap of $208.57 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 3.18 and a beta of 0.77. 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’s 50 day simple moving average is $547.81 and its two-hundred day simple moving average is $571.95. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 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 return on equity of 17.51% and a net margin of 14.78%. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TMO. Bank of America lowered their price objective on 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 lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. UBS Group lifted their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, TD Cowen lifted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average 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.