Kornitzer Capital Management Inc. KS Sells 182 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kornitzer Capital Management Inc. KS cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,027 shares of the medical research company’s stock after selling 182 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Thermo Fisher Scientific were worth $3,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. FMR LLC lifted its stake in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 1.7% in 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 acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after acquiring an additional 65,586 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific 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 $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $522.91 on Wednesday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock has a market capitalization of $200.01 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77. 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 $548.15 and its 200-day moving average is $568.62.

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

Thermo Fisher Scientific declared that its board has approved a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TMO shares. Evercore ISI dropped their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada decreased their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. UBS Group increased their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific 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.