Pittenger & Anderson Inc. Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Pittenger & Anderson Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 22,370 shares of the medical research company’s stock after selling 2,797 shares during the period. Pittenger & Anderson Inc.’s holdings in Thermo Fisher Scientific were worth $11,638,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TMO. International Assets Investment Management LLC lifted its position in Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after buying an additional 1,414,556 shares during the last quarter. FMR LLC lifted its position in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Thermo Fisher Scientific in the third quarter valued at about $254,412,000. Lindsell Train Ltd acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $211,858,000. Finally, Franklin Resources Inc. lifted its position in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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. In the last quarter, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TMO shares. Bank of America reduced their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company raised their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Barclays decreased their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Raymond James reissued an “outperform” rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Trading Down 0.0 %

NYSE TMO opened at $532.58 on Monday. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a 50-day moving average of $548.51 and a 200-day moving average of $569.90. 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 company has a market cap of $203.71 billion, a P/E ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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.