Mill Creek Capital Advisors LLC Sells 827 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Mill Creek Capital Advisors LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,340 shares of the medical research company’s stock after selling 827 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.7% during the third 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 purchasing an additional 127,564 shares during the period. Coldstream Capital Management Inc. grew 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 period. Greenwood Gearhart Inc. grew its holdings in Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after purchasing an additional 1,837 shares during the period. Nordea Investment Management AB boosted its holdings 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 buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.2% in the fourth 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 during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Scotiabank boosted 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 investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,363 shares of the company’s stock, 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. Over the last three months, insiders have sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $553.02 on Tuesday. 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 company’s 50-day moving average is $547.34 and its 200-day moving average is $572.24. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm has a market capitalization of $211.53 billion, a PE ratio of 33.46, a PEG ratio of 3.18 and a beta of 0.77.

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

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

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.