Two Point Capital Management Inc. Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Two Point Capital Management Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,895 shares of the medical research company’s stock after selling 102 shares during the period. Thermo Fisher Scientific makes up 2.4% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Two Point Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $6,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after buying an additional 995 shares in the last quarter. Greenwood Gearhart Inc. raised its stake in shares of Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after buying an additional 1,837 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Thermo Fisher Scientific by 23.6% during the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after buying an additional 10,606 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its stake in shares of Thermo Fisher Scientific by 6.2% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after buying an additional 618 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $538.31 on Thursday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The stock has a market capitalization of $205.90 billion, a P/E ratio of 32.57, a PEG ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $548.02 and its 200 day moving average price is $571.52.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 return on equity of 17.51% and a net margin of 14.78%. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated 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 directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of several research analyst reports. Sanford C. Bernstein raised 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. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. TD Cowen raised their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America dropped their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $658.00.

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.