Generate Investment Management Ltd Lowers Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Generate Investment Management Ltd trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,974 shares of the medical research company’s stock after selling 8,191 shares during the period. Generate Investment Management Ltd’s holdings in Thermo Fisher Scientific were worth $8,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

TMO opened at $571.44 on Friday. The stock has a market capitalization of $218.58 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. 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 company has a fifty day moving average of $546.51 and a 200 day moving average of $571.95.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Robert W. Baird lowered their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Evercore ISI lowered their price objective 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. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Finally, TD Cowen boosted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $658.00.

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.