Rhumbline Advisers Sells 10,853 Shares of Thermo Fisher Scientific Inc. $TMO

Rhumbline Advisers trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 624,202 shares of the medical research company’s stock after selling 10,853 shares during the quarter. Rhumbline Advisers owned 0.17% of Thermo Fisher Scientific worth $302,750,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its position in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the period. Cloud Capital Management LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Capital A Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth about $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares in the company, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 113,234 shares of company stock worth $65,896,375. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several research reports. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Citigroup boosted their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $539.45 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $202.68 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.15 and a beta of 0.93. The business has a 50-day simple moving average of $589.18 and a two-hundred day simple moving average of $544.35.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter in the prior year, the business earned $6.10 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.