PUREfi Wealth LLC Takes $203,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

PUREfi Wealth LLC bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, HoldingsChannel reports. The fund bought 390 shares of the medical research company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quadrant Private Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 2.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 1,425 shares of the medical research company’s stock worth $742,000 after acquiring an additional 38 shares in the last quarter. PICTET BANK & TRUST Ltd increased its position in shares of Thermo Fisher Scientific by 4.4% during the fourth quarter. PICTET BANK & TRUST Ltd now owns 3,311 shares of the medical research company’s stock worth $1,722,000 after acquiring an additional 140 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock worth $79,677,000 after acquiring an additional 461 shares in the last quarter. Asset Planning Inc bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $196,000. Finally, Pictet North America Advisors SA increased its position in shares of Thermo Fisher Scientific by 0.8% during the fourth quarter. Pictet North America Advisors SA now owns 8,812 shares of the medical research company’s stock worth $4,584,000 after acquiring an additional 69 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 0.0 %

Shares of NYSE TMO opened at $532.58 on Friday. The firm’s 50 day moving average price is $548.51 and its 200-day moving average price is $570.52. The company has a market cap of $203.71 billion, a PE ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 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 $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % 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 valued at $11,231,699. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on shares of 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. Citigroup upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Raymond James reiterated an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued 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.

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.