Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,340 shares of the medical research company’s stock after selling 827 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $4,339,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $30,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research note on Friday, January 10th. Finally, Evercore ISI reduced their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $553.02 on Tuesday. 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 firm has a market capitalization of $211.53 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 3.18 and a beta of 0.77. The company’s fifty day moving average is $547.34 and its two-hundred day moving average is $572.24. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Company 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.