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

Palumbo Wealth Management LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,595 shares of the medical research company’s stock after selling 478 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,870,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

TMO has been the topic of several research analyst reports. Citigroup raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Sanford C. Bernstein upgraded shares of 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. Wells Fargo & Company lifted their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays reduced their price objective on 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, Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Stock Down 0.0 %

Shares of NYSE:TMO opened at $532.58 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company’s 50-day moving average price is $548.51 and its two-hundred day moving average price is $570.52. The firm has a market cap of $203.71 billion, a P/E ratio of 32.22, 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 posted its quarterly earnings results 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 return on equity of 17.51% and a net margin of 14.78%. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 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 transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock valued at $11,231,699 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.