Gianluca Pettiti Sells 400 Shares of Thermo Fisher Scientific (NYSE:TMO) Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Thermo Fisher Scientific Stock Performance

TMO opened at $509.93 on Friday. The stock has a 50-day moving average of $586.80 and a 200-day moving average of $543.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $191.59 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $6.10 EPS. As a group, equities research 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 program on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on TMO shares. Argus upped their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Evercore reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. TD Cowen decreased their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Barclays upped their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds have recently modified their holdings of the stock. High Note Wealth LLC lifted its holdings in shares of Thermo Fisher Scientific by 170.6% during the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 29 shares during the period. Swiss RE Ltd. bought a new position in Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Beacon Financial Strategies CORP acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Olistico Wealth LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $30,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.