RNC Capital Management LLC Sells 1,913 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

RNC Capital Management LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,780 shares of the medical research company’s stock after selling 1,913 shares during the period. RNC Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $5,088,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. IFG Advisors LLC lifted its stake in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares during the last quarter. Stonegate Investment Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after acquiring an additional 18 shares during the last quarter. Angeles Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the period. Bangor Savings Bank increased its position in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares during the period. Finally, Eagle Rock Investment Company LLC grew its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after purchasing an additional 19 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TMO. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Stifel Nicolaus reduced 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 note on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Trading Down 1.8 %

Shares of TMO stock opened at $571.75 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a market cap of $218.70 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 4.06 and a beta of 0.77. The stock has a 50 day simple moving average of $545.51 and a 200-day simple moving average of $571.95. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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%. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.