Tranquility Partners LLC Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Tranquility Partners LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,239 shares of the medical research company’s stock after selling 105 shares during the quarter. Tranquility Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TMO shares. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird cut their price target 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. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a report on Friday, January 10th. Finally, Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Stock Down 1.3 %

Shares of NYSE TMO opened at $538.31 on Thursday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The firm has a fifty day moving average of $548.02 and a 200-day moving average of $571.52. The stock has a market capitalization of $205.90 billion, a PE ratio of 32.57, a P/E/G ratio of 3.18 and a beta of 0.77. 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 (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the business’s 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 transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares in the company, valued at approximately $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 three months, insiders sold 20,125 shares of company stock valued at $11,231,699. Company insiders own 0.34% of the company’s stock.

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.