Princeton Global Asset Management LLC Has $4.52 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Princeton Global Asset Management LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,698 shares of the medical research company’s stock after selling 55 shares during the period. Thermo Fisher Scientific accounts for approximately 1.6% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Princeton Global Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $4,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.2% in the fourth quarter. BlackRock Inc. now owns 29,504,221 shares of the medical research company’s stock valued at $13,742,475,000 after purchasing an additional 624,512 shares during the last quarter. FMR LLC increased its holdings in shares of Thermo Fisher Scientific by 5.6% in the fourth quarter. FMR LLC now owns 13,022,987 shares of the medical research company’s stock valued at $6,065,847,000 after purchasing an additional 686,768 shares during the last quarter. C WorldWide Group Holding A S increased its holdings in shares of Thermo Fisher Scientific by 1.8% in the fourth quarter. C WorldWide Group Holding A S now owns 1,973,894 shares of the medical research company’s stock valued at $919,400,000 after purchasing an additional 35,261 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Thermo Fisher Scientific by 287,808.7% in the third quarter. Alps Advisors Inc. now owns 1,954,900 shares of the medical research company’s stock valued at $1,634,000 after purchasing an additional 1,954,221 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,915,477 shares of the medical research company’s stock valued at $845,722,000 after purchasing an additional 48,950 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Several equities analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a report on Wednesday, December 2nd. They issued a “buy” rating and a $570.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of Thermo Fisher Scientific from $477.00 to $539.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. UBS Group upped their price objective on shares of Thermo Fisher Scientific from $566.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $488.00 price objective on the stock. in a report on Tuesday, December 22nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and decreased their price target for the company from $550.00 to $500.00 in a research note on Wednesday, December 16th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $527.47.

In other news, COO Mark Stevenson sold 14,113 shares of the stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $476.46, for a total value of $6,724,279.98. Following the completion of the transaction, the chief operating officer now owns 58,005 shares of the company’s stock, valued at $27,637,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.

TMO traded down $7.77 on Tuesday, hitting $455.51. 27,346 shares of the stock were exchanged, compared to its average volume of 1,767,478. The firm has a market capitalization of $180.53 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.93 and a quick ratio of 2.31. Thermo Fisher Scientific Inc. has a 12 month low of $250.21 and a 12 month high of $532.57. The business has a 50-day moving average of $500.86 and a two-hundred day moving average of $464.08.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Sunday, January 31st. The medical research company reported $7.09 EPS for the quarter, topping analysts’ consensus estimates of $6.56 by $0.53. The firm had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Thermo Fisher Scientific had a net margin of 17.12% and a return on equity of 21.35%. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 19.03 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 5th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the medical research company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.

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

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