Bleakley Financial Group LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bleakley Financial Group LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,868 shares of the medical research company’s stock after buying an additional 812 shares during the period. Bleakley Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $6,174,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Choreo LLC increased its position in shares of Thermo Fisher Scientific by 16.5% during the fourth quarter. Choreo LLC now owns 13,744 shares of the medical research company’s stock valued at $7,139,000 after buying an additional 1,947 shares during the period. Tectonic Advisors LLC grew its position in shares of Thermo Fisher Scientific by 2.8% during the 4th quarter. Tectonic Advisors LLC now owns 3,224 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 89 shares in the last quarter. Nvwm LLC raised its position in shares of Thermo Fisher Scientific by 0.7% in the fourth quarter. Nvwm LLC now owns 3,101 shares of the medical research company’s stock worth $1,613,000 after buying an additional 22 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Thermo Fisher Scientific by 0.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 2,636 shares of the medical research company’s stock worth $1,515,000 after acquiring an additional 23 shares during the last quarter. Finally, Lion Street Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 32.9% during the fourth quarter. Lion Street Advisors LLC now owns 497 shares of the medical research company’s stock worth $259,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $581.72 on Thursday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $544.31 and a 200-day moving average price of $571.88. The firm has a market capitalization of $222.51 billion, a PE ratio of 35.19, a P/E/G ratio of 4.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

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

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,125 shares of company stock worth $16,207,439 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TMO. Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. UBS Group upped their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific 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.