Leo Wealth LLC Boosts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Leo Wealth LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,946 shares of the medical research company’s stock after buying an additional 29 shares during the period. Leo Wealth LLC’s holdings in Thermo Fisher Scientific were worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. AMF Tjanstepension AB bought a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $42,409,000. Brookstone Capital Management boosted its holdings in shares of Thermo Fisher Scientific by 3.1% during the third quarter. Brookstone Capital Management now owns 2,558 shares of the medical research company’s stock worth $1,582,000 after purchasing an additional 76 shares during the period. Daymark Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 14.5% during the 3rd quarter. Daymark Wealth Partners LLC now owns 709 shares of the medical research company’s stock valued at $439,000 after purchasing an additional 90 shares during the period. CWM LLC lifted its holdings in Thermo Fisher Scientific by 91.3% in the 3rd quarter. CWM LLC now owns 35,114 shares of the medical research company’s stock worth $21,720,000 after buying an additional 16,756 shares during the period. Finally, Wedmont Private Capital increased its stake in shares of Thermo Fisher Scientific by 14.2% during the third quarter. Wedmont Private Capital now owns 2,338 shares of the medical research company’s stock valued at $1,400,000 after buying an additional 291 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value 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. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stephen Williamson sold 9,825 shares of the company’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 $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This 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 have sold 20,125 shares of company stock valued at $11,231,699. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several research reports. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Scotiabank upped their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

TMO opened at $571.44 on Friday. The company’s 50-day simple moving average is $546.51 and its two-hundred day simple moving average is $571.95. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The stock has a market capitalization of $218.58 billion, a P/E ratio of 34.57, a P/E/G ratio of 4.06 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 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 net margin of 14.78% and a return on equity of 17.51%. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is 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.