Focus Financial Network Inc. Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Focus Financial Network Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,732 shares of the medical research company’s stock after selling 52 shares during the quarter. Focus Financial Network Inc.’s holdings in Thermo Fisher Scientific were worth $1,943,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $42,409,000. Exchange Traded Concepts LLC lifted its stake in shares of Thermo Fisher Scientific by 8.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,137 shares of the medical research company’s stock worth $1,322,000 after purchasing an additional 159 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $218,000. CX Institutional lifted its stake in shares of Thermo Fisher Scientific by 554.3% during the 3rd quarter. CX Institutional now owns 7,898 shares of the medical research company’s stock worth $4,885,000 after purchasing an additional 6,691 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Thermo Fisher Scientific by 3.1% during the 3rd quarter. Creative Planning now owns 101,174 shares of the medical research company’s stock worth $62,583,000 after purchasing an additional 3,072 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group upped their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Citigroup upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reduced their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 over the last quarter. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Down 1.4 %

Shares of TMO opened at $545.27 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week 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 company has a market capitalization of $208.57 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 3.18 and a beta of 0.77. The stock’s 50-day moving average price is $547.81 and its 200-day moving average price is $571.95.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.