Nicholas Hoffman & Company LLC. Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Nicholas Hoffman & Company LLC. decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 47.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 402 shares of the medical research company’s stock after selling 361 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Thermo Fisher Scientific were worth $209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AMF Tjanstepension AB bought a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $42,409,000. Howard Capital Management Group LLC raised its position in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after buying an additional 286 shares in the last quarter. Blue Trust Inc. grew its position in Thermo Fisher Scientific by 106.2% in the third quarter. Blue Trust Inc. now owns 1,709 shares of the medical research company’s stock worth $1,057,000 after acquiring an additional 880 shares in the last quarter. Vest Financial LLC increased its position in shares of Thermo Fisher Scientific by 205.1% during the 3rd quarter. Vest Financial LLC now owns 1,620 shares of the medical research company’s stock valued at $1,002,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Thermo Fisher Scientific by 3.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 143,910 shares of the medical research company’s stock worth $89,018,000 after buying an additional 4,999 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lowered their price target on shares of 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. Barclays reduced their price objective 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. UBS Group increased their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Citigroup boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was 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 available at the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock worth $11,231,699 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $532.58 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market capitalization of $203.71 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The firm has a 50 day moving average price of $548.51 and a 200-day moving average price of $569.90. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback 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 purchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.