Equitable Trust Co. Sells 100 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Equitable Trust Co. cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,483 shares of the medical research company’s stock after selling 100 shares during the period. Equitable Trust Co.’s holdings in Thermo Fisher Scientific were worth $1,812,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $27,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at $28,000. Missouri Trust & Investment Co bought a new position 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 in the 4th quarter valued at $30,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the topic of a number of analyst reports. Robert W. Baird cut their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank increased their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Finally, Citigroup increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $553.02 on Tuesday. The stock has a market capitalization of $211.53 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.18 and a beta of 0.77. The business has a 50-day moving average of $547.34 and a 200-day moving average of $572.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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, sell-side analysts predict 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 stock repurchase 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 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 $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 that occurred 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 transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

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.