Banque Pictet & Cie SA Sells 17,902 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Banque Pictet & Cie SA lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 167,961 shares of the medical research company’s stock after selling 17,902 shares during the period. Thermo Fisher Scientific comprises about 0.6% of Banque Pictet & Cie SA’s holdings, making the stock its 24th largest position. Banque Pictet & Cie SA’s holdings in Thermo Fisher Scientific were worth $87,378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. W.H. Cornerstone Investments Inc. raised its position in Thermo Fisher Scientific by 25.1% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 2,870 shares of the medical research company’s stock worth $1,493,000 after buying an additional 576 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Thermo Fisher Scientific by 8.0% during the fourth quarter. V Square Quantitative Management LLC now owns 2,618 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 194 shares during the period. DT Investment Partners LLC grew its position in Thermo Fisher Scientific by 2.2% in the 4th quarter. DT Investment Partners LLC now owns 1,394 shares of the medical research company’s stock worth $725,000 after purchasing an additional 30 shares during the period. Root Financial Partners LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $251,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of Thermo Fisher Scientific by 16.7% in the 4th quarter. Vontobel Holding Ltd. now owns 925,917 shares of the medical research company’s stock worth $481,690,000 after buying an additional 132,320 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s 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 sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $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 is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $532.63 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a 50 day moving average of $548.21 and a 200 day moving average of $571.28. The firm has a market cap of $203.73 billion, a PE ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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%. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

TMO has been the topic of several research reports. Bernstein Bank raised their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Evercore ISI reduced their price target 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. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus 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.