Pinnacle Wealth Management Advisory Group LLC Sells 203 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 828 shares of the medical research company’s stock after selling 203 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Thermo Fisher Scientific by 11.4% during the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. increased its stake in shares of Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after purchasing an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC grew its stake in Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after buying an additional 618 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.0 %

Shares of TMO stock opened at $532.58 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The business has a 50-day moving average of $548.51 and a 200 day moving average of $570.21. The stock has a market capitalization of $203.71 billion, a PE ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 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%. As a group, sell-side 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 authorized a stock buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding 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 usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TMO shares. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Barclays reduced their price target 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. Finally, Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $658.00.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’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 transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 over the last ninety days. 0.34% of the stock is owned by 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.