Gray Private Wealth LLC Sells 78 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Gray Private Wealth LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.9% in the 4th quarter, HoldingsChannel reports. The firm owned 637 shares of the medical research company’s stock after selling 78 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.2% of Gray Private Wealth LLC’s portfolio, making the stock its 29th largest position. Gray Private Wealth LLC’s holdings in Thermo Fisher Scientific were worth $331,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TMO. Apollon Wealth Management LLC increased its position in Thermo Fisher Scientific by 16.8% in the 4th quarter. Apollon Wealth Management LLC now owns 12,899 shares of the medical research company’s stock valued at $6,711,000 after acquiring an additional 1,857 shares in the last quarter. Vest Financial LLC raised its position in Thermo Fisher Scientific by 13.5% in the 4th quarter. Vest Financial LLC now owns 1,839 shares of the medical research company’s stock worth $957,000 after purchasing an additional 219 shares during the last quarter. Cidel Asset Management Inc. boosted its position in Thermo Fisher Scientific by 3.0% in the 4th quarter. Cidel Asset Management Inc. now owns 1,313 shares of the medical research company’s stock valued at $683,000 after buying an additional 38 shares during the last quarter. Conning Inc. lifted its stake in shares of Thermo Fisher Scientific by 15.3% during the fourth quarter. Conning Inc. now owns 11,582 shares of the medical research company’s stock valued at $6,025,000 after acquiring an additional 1,541 shares during the period. Finally, Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth about $28,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TMO. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Morgan Stanley raised their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $571.44 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a 50 day moving average of $546.51 and a 200-day moving average of $571.95. The stock has a market capitalization of $218.58 billion, a P/E ratio of 34.57, a P/E/G ratio of 3.18 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was 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 $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 sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

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.