Valley Brook Capital Group Inc. Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Valley Brook Capital Group Inc. decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,410 shares of the medical research company’s stock after selling 475 shares during the period. Thermo Fisher Scientific accounts for 1.7% of Valley Brook Capital Group Inc.’s investment portfolio, making the stock its 14th biggest position. Valley Brook Capital Group Inc.’s holdings in Thermo Fisher Scientific were worth $2,294,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Certuity LLC increased its position in Thermo Fisher Scientific by 29.5% during the fourth quarter. Certuity LLC now owns 825 shares of the medical research company’s stock worth $429,000 after buying an additional 188 shares in the last quarter. L. Roy Papp & Associates LLP grew its position in shares of Thermo Fisher Scientific by 0.4% in the fourth quarter. L. Roy Papp & Associates LLP now owns 48,916 shares of the medical research company’s stock valued at $25,447,000 after purchasing an additional 183 shares during the period. Harbor Advisory Corp MA grew its position in shares of Thermo Fisher Scientific by 8.1% in the fourth quarter. Harbor Advisory Corp MA now owns 11,201 shares of the medical research company’s stock valued at $5,827,000 after purchasing an additional 839 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $103,000. Finally, Violich Capital Management Inc. grew its position in shares of Thermo Fisher Scientific by 13.7% in the fourth quarter. Violich Capital Management Inc. now owns 1,152 shares of the medical research company’s stock valued at $599,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TMO shares. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America lowered their price objective 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. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered their price target on 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. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $545.27 on Wednesday. The firm has a market capitalization of $208.57 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The business has a 50 day simple moving average of $547.81 and a 200 day simple moving average of $571.95.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock worth $11,231,699. Insiders own 0.34% of the company’s stock.

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.