Sycomore Asset Management Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sycomore Asset Management grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 51.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,318 shares of the medical research company’s stock after purchasing an additional 7,929 shares during the period. Thermo Fisher Scientific comprises about 1.5% of Sycomore Asset Management’s portfolio, making the stock its 20th largest position. Sycomore Asset Management’s holdings in Thermo Fisher Scientific were worth $12,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $27,000. Barrett & Company Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $28,000. Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $30,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction 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 approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated 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 owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % 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. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.2 %

NYSE TMO opened at $571.44 on Monday. The stock has a 50-day moving average of $547.34 and a 200-day moving average of $572.26. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm has a market cap of $218.58 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data 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%. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on TMO. Wells Fargo & Company increased their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays lowered their price objective on 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. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. 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 note on Friday, December 13th. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

About Thermo Fisher Scientific

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.