Three Bridge Wealth Advisors LLC Buys New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Three Bridge Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 525 shares of the medical research company’s stock, valued at approximately $273,000.

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $42,409,000. Exchange Traded Concepts LLC lifted its stake in Thermo Fisher Scientific by 8.0% in the third 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 Thermo Fisher Scientific during the third quarter valued at about $218,000. CX Institutional grew its stake in shares of Thermo Fisher Scientific by 554.3% during the third quarter. CX Institutional now owns 7,898 shares of the medical research company’s stock valued at $4,885,000 after buying an additional 6,691 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Thermo Fisher Scientific by 3.1% in the 3rd quarter. Creative Planning now owns 101,174 shares of the medical research company’s stock valued at $62,583,000 after acquiring an additional 3,072 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $538.31 on Thursday. The firm’s 50-day simple moving average is $548.02 and its two-hundred day simple moving average is $571.52. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The stock has a market cap of $205.90 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 17.51% and a net margin of 14.78%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

TMO has been the topic of a number of analyst reports. Barclays decreased their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a report on Friday, January 10th. UBS Group raised their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Citigroup upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada cut their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

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.