Hartford Investment Management Co. Has $12.30 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Hartford Investment Management Co. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,639 shares of the medical research company’s stock after selling 407 shares during the quarter. Hartford Investment Management Co.’s holdings in Thermo Fisher Scientific were worth $12,298,000 as of its most recent SEC filing.

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

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $545.27 on Wednesday. The company has a market capitalization of $208.57 billion, a PE ratio of 32.99, a P/E/G ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $547.81 and a two-hundred day moving average price of $571.95. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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 net margin of 14.78% and a return on equity of 17.51%. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on TMO. Morgan Stanley raised their target price 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. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 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 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 approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. 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 in the last three months. Insiders own 0.34% of the company’s stock.

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.