Phraction Management LLC Has $14.63 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Phraction Management LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,127 shares of the medical research company’s stock after purchasing an additional 527 shares during the quarter. Thermo Fisher Scientific makes up about 5.1% of Phraction Management LLC’s investment portfolio, making the stock its 5th largest holding. Phraction Management LLC’s holdings in Thermo Fisher Scientific were worth $14,633,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TMO. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the third quarter valued at about $27,000. Barrett & Company Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $538.31 on Thursday. The business’s 50-day moving average price is $548.02 and its two-hundred day moving average price is $571.52. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a market capitalization of $205.90 billion, a price-to-earnings ratio of 32.57, a P/E/G 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 (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect 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 initiated a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. 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. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TMO shares. Scotiabank lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Robert W. Baird reduced their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Wells Fargo & Company lifted their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. 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 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.