Platform Technology Partners Sells 180 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Platform Technology Partners reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the medical research company’s stock after selling 180 shares during the quarter. Platform Technology Partners’ holdings in Thermo Fisher Scientific were worth $234,000 as of its most recent SEC filing.

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of the sale, the executive vice president now owns 16,363 shares in the company, 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. Insiders sold a total of 20,125 shares of company stock worth $11,231,699 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.2 %

Shares of TMO stock opened at $571.44 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 twelve month low of $493.30 and a twelve month high of $627.88. The stock has a 50 day moving average of $546.51 and a 200 day moving average of $571.95. The stock has a market cap of $218.58 billion, a P/E ratio of 34.57, a P/E/G ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results 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 net margin of 14.78% and a return on equity of 17.51%. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a stock 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 purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their target price on 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. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Finally, Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a 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 company’s stock. According to data from MarketBeat.com, the company presently has an average 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.