Kestra Private Wealth Services LLC Buys 1,118 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kestra Private Wealth Services LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,914 shares of the medical research company’s stock after purchasing an additional 1,118 shares during the period. Kestra Private Wealth Services LLC’s holdings in Thermo Fisher Scientific were worth $6,198,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TMO. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter worth $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $28,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $571.44 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The business’s 50 day moving average price is $547.34 and its 200 day moving average price is $572.26. The firm has a market cap of $218.58 billion, a P/E ratio of 34.57, a P/E/G ratio of 3.18 and a beta of 0.77.

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

Thermo Fisher Scientific declared that its board has authorized a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. Citigroup lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank raised their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $658.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the 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 transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’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 value of $5,302,600.00. Following the transaction, the chief executive officer now directly 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 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 worth $11,231,699. 0.34% of the stock is owned by corporate insiders.

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.