Robertson Stephens Wealth Management LLC Sells 1,922 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Robertson Stephens Wealth Management LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,954 shares of the medical research company’s stock after selling 1,922 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $3,620,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth about $27,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth about $50,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 1.8 %

NYSE:TMO opened at $571.75 on Friday. The firm’s fifty day moving average is $545.51 and its 200-day moving average is $571.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The firm has a market cap of $218.70 billion, a P/E ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77.

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, beating 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%. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction 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 in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’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 transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TMO shares. 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. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Raymond James reaffirmed an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $658.00.

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.