Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Conning Inc.

Conning Inc. raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.3% in the fourth quarter, HoldingsChannel reports. The fund owned 11,582 shares of the medical research company’s stock after purchasing an additional 1,541 shares during the period. Conning Inc.’s holdings in Thermo Fisher Scientific were worth $6,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Golden State Wealth Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $919,000. Live Oak Private Wealth LLC increased its position in shares of Thermo Fisher Scientific by 25.9% in the fourth quarter. Live Oak Private Wealth LLC now owns 8,695 shares of the medical research company’s stock valued at $4,523,000 after buying an additional 1,791 shares in the last quarter. Fairvoy Private Wealth LLC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $2,297,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Thermo Fisher Scientific by 2.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,588 shares of the medical research company’s stock valued at $28,919,000 after buying an additional 1,213 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $571.44 on Friday. The stock has a market cap of $218.58 billion, a PE ratio of 34.57, a P/E/G ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The stock has a fifty day simple moving average of $546.51 and a 200-day simple moving average of $571.95.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Analyst Ratings Changes

A number of research firms have recently commented on TMO. Barclays cut 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. Wells Fargo & Company boosted their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Evercore ISI reduced their price objective 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. Stifel Nicolaus reduced 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. Finally, Robert W. Baird reduced their price objective 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 research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $658.00.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was 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 directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s 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 transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently 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.