Lee Financial Co Has $207,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Lee Financial Co lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.0% during the fourth quarter, Holdings Channel reports. The fund owned 397 shares of the medical research company’s stock after selling 30 shares during the period. Lee Financial Co’s holdings in Thermo Fisher Scientific were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MN Wealth Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 6.3% during the 4th quarter. MN Wealth Advisors LLC now owns 440 shares of the medical research company’s stock worth $229,000 after buying an additional 26 shares during the last quarter. Secured Retirement Advisors LLC lifted its position in Thermo Fisher Scientific by 19.4% during the fourth quarter. Secured Retirement Advisors LLC now owns 3,779 shares of the medical research company’s stock worth $1,966,000 after acquiring an additional 613 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $246,000. Allworth Financial LP increased its stake in shares of Thermo Fisher Scientific by 183.6% during the fourth quarter. Allworth Financial LP now owns 18,783 shares of the medical research company’s stock worth $10,792,000 after purchasing an additional 12,160 shares during the period. Finally, Principal Securities Inc. lifted its holdings in Thermo Fisher Scientific by 9.2% during the 4th quarter. Principal Securities Inc. now owns 9,058 shares of the medical research company’s stock worth $4,712,000 after purchasing an additional 766 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $532.58 on Friday. The company has a market capitalization of $203.71 billion, a PE ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $548.51 and a two-hundred day moving average price of $570.52. 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 posted 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 net margin of 14.78% and a return on equity of 17.51%. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current 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.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 over the last three months. Company insiders own 0.34% of the company’s stock.

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.