Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Core Alternative Capital

Core Alternative Capital trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,911 shares of the medical research company’s stock after selling 393 shares during the quarter. Core Alternative Capital’s holdings in Thermo Fisher Scientific were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $30,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was 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. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TMO shares. Evercore ISI lowered their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. 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 research note on Monday, February 3rd. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $553.02 on Tuesday. The stock has a market cap of $211.53 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The business has a fifty day simple moving average of $547.34 and a 200-day simple moving average of $572.24. 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 Inc. has a 12 month low of $493.30 and a 12 month 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 EPS for the quarter, topping 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, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.