Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,199 shares of the medical research company’s stock after selling 263 shares during the quarter. Thermo Fisher Scientific makes up approximately 0.6% of 1ST Source Bank’s investment portfolio, making the stock its 27th largest position. 1ST Source Bank’s holdings in Thermo Fisher Scientific were worth $8,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Halpern Financial Inc. lifted its stake in Thermo Fisher Scientific by 307.7% during the 3rd quarter. Halpern Financial Inc. now owns 53 shares of the medical research company’s stock worth $27,000 after acquiring an additional 40 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $33,000. Live Oak Investment Partners purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $36,000. Tyler Stone Wealth Management purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $37,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of several recent research reports. Robert W. Baird restated an “outperform” rating and set a $670.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, December 14th. Morgan Stanley cut their target price on Thermo Fisher Scientific from $640.00 to $600.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 24th. KeyCorp lowered Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 26th. Wolfe Research began coverage on Thermo Fisher Scientific in a research report on Wednesday, December 13th. They set an “outperform” rating and a $575.00 price target on the stock. Finally, Raymond James lifted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $596.00.

Read Our Latest Stock Report on Thermo Fisher Scientific

Thermo Fisher Scientific Price Performance

TMO traded down $3.05 during trading on Monday, reaching $547.70. 438,281 shares of the stock were exchanged, compared to its average volume of 1,925,341. The business’s 50 day moving average price is $533.33 and its two-hundred day moving average price is $513.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39. The company has a market capitalization of $211.61 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 2.31 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $593.17.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company had revenue of $10.89 billion during the quarter, compared to analysts’ expectations of $10.73 billion. During the same period in the previous year, the firm posted $5.40 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.57 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.2% 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.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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