Thermo Fisher Scientific Inc. $TMO Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 624,202 shares of the medical research company’s stock after selling 10,853 shares during the period. Rhumbline Advisers’ holdings in Thermo Fisher Scientific were worth $302,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after purchasing an additional 988 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after buying an additional 20 shares during the period. Concurrent Investment Advisors LLC increased its position in Thermo Fisher Scientific by 19.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,570 shares of the medical research company’s stock worth $1,853,000 after buying an additional 748 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Thermo Fisher Scientific by 2.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 106,999 shares of the medical research company’s stock worth $45,097,000 after buying an additional 2,062 shares in the last quarter. Finally, Cypress Capital Group acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $479,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $539.45 on Wednesday. The company has a market cap of $202.68 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.15 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $589.18 and its 200 day simple moving average is $544.35.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.10 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. This represents a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,234 shares of company stock valued at $65,896,375 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Stifel Nicolaus lifted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Leerink Partners increased their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.