Hartford Investment Management Co. Sells 407 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Hartford Investment Management Co. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,639 shares of the medical research company’s stock after selling 407 shares during the period. Hartford Investment Management Co.’s holdings in Thermo Fisher Scientific were worth $12,298,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $28,000. Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $30,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Trading Down 1.4 %

Shares of TMO stock opened at $545.27 on Wednesday. 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 firm has a market cap of $208.57 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The business has a 50-day moving average price of $547.81 and a two-hundred day moving average price of $571.95. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the 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 owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TMO shares. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific 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.