Palumbo Wealth Management LLC Sells 478 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Palumbo Wealth Management LLC decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,595 shares of the medical research company’s stock after selling 478 shares during the period. Palumbo Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. 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. Sanford C. Bernstein raised 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. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $658.00.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 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 value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $532.58 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The stock’s 50-day moving average is $548.51 and its 200-day moving average is $570.52. The stock has a market cap of $203.71 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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%. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board 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.