Oakworth Capital Inc. Acquires 262 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Oakworth Capital Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,093 shares of the medical research company’s stock after buying an additional 262 shares during the quarter. Oakworth Capital Inc.’s holdings in Thermo Fisher Scientific were worth $1,609,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $50,000. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the 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 $175,677.00. Following the transaction, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,125 shares of company stock valued at $16,207,439 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Raymond James reissued an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday. Sanford C. Bernstein raised 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. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup boosted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $581.72 on Thursday. The stock has a 50-day simple moving average of $545.51 and a two-hundred day simple moving average of $571.95. 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 market capitalization of $222.51 billion, a PE ratio of 35.19, a P/E/G ratio of 4.06 and a beta of 0.77.

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 (EPS) 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%. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current year.

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

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.