Strategic Financial Concepts LLC Acquires New Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Strategic Financial Concepts LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 245,550 shares of the medical research company’s stock, valued at approximately $127,742,000. Strategic Financial Concepts LLC owned approximately 0.06% of Thermo Fisher Scientific as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TMO. Leo Wealth LLC grew its position in Thermo Fisher Scientific by 1.5% during the 4th quarter. Leo Wealth LLC now owns 1,946 shares of the medical research company’s stock worth $1,012,000 after acquiring an additional 29 shares during the last quarter. Hedeker Wealth LLC raised its stake in shares of Thermo Fisher Scientific by 5.9% in the fourth quarter. Hedeker Wealth LLC now owns 7,534 shares of the medical research company’s stock worth $3,919,000 after purchasing an additional 417 shares during the last quarter. Eagle Ridge Investment Management raised its position in Thermo Fisher Scientific by 2.4% in the 4th quarter. Eagle Ridge Investment Management now owns 1,460 shares of the medical research company’s stock valued at $760,000 after buying an additional 34 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Thermo Fisher Scientific by 5.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 6,287 shares of the medical research company’s stock worth $3,271,000 after purchasing an additional 323 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in Thermo Fisher Scientific by 9.3% during the fourth quarter. Oakworth Capital Inc. now owns 3,093 shares of the medical research company’s stock worth $1,609,000 after acquiring an additional 262 shares during the period. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TMO. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. TD Cowen upped their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Bank of America dropped their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $571.75 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a market capitalization of $218.70 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 4.06 and a beta of 0.77. The business has a 50-day moving average of $545.51 and a 200-day moving average of $571.95.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

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

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,125 shares of company stock valued at $11,231,699. Company insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.