Insider Selling: Thermo Fisher Scientific (NYSE:TMO) EVP Sells 400 Shares of Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO traded down $13.24 during mid-day trading on Wednesday, hitting $526.56. The company had a trading volume of 3,342,220 shares, compared to its average volume of 2,634,536. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $589.18 and its 200-day simple moving average is $544.35. The stock has a market cap of $197.83 billion, a PE ratio of 29.68, a P/E/G ratio of 3.15 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $6.10 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.4% 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.

Analyst Ratings Changes

A number of research analysts have commented on TMO shares. TD Cowen reduced their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a report on Sunday, December 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. High Note Wealth LLC boosted its holdings in shares of Thermo Fisher Scientific by 170.6% during the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 29 shares during the period. Beacon Financial Strategies CORP bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Olistico Wealth LLC acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Core Wealth Advisors LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $30,000. Finally, HFM Investment Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 341.7% in the fourth quarter. HFM Investment Advisors LLC now owns 53 shares of the medical research company’s stock worth $31,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.