Gianluca Pettiti Sells 300 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $571.75 on Friday. The stock has a market cap of $218.70 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $545.51 and its 200 day simple moving average is $571.95.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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 net margin of 14.78% and a return on equity of 17.51%. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

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

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the third quarter worth $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth $28,000. Finally, Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TMO. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday. Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America lowered their price target on 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. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group lifted their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

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.