Harbor Advisory Corp MA Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Harbor Advisory Corp MA raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,201 shares of the medical research company’s stock after buying an additional 839 shares during the period. Thermo Fisher Scientific accounts for approximately 1.9% of Harbor Advisory Corp MA’s investment portfolio, making the stock its 19th largest position. Harbor Advisory Corp MA’s holdings in Thermo Fisher Scientific were worth $5,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares during the period. FMR LLC boosted its holdings in Thermo Fisher Scientific by 19.7% during 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 period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 127,564 shares during the period. Franklin Resources Inc. boosted its holdings in Thermo Fisher Scientific by 5.7% during 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 period. Finally, Fisher Asset Management LLC boosted its holdings in Thermo Fisher Scientific by 2.6% during 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 period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 1.4 %

NYSE:TMO opened at $545.27 on Wednesday. The stock’s 50 day moving average price is $547.81 and its 200 day moving average price is $571.95. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a market capitalization of $208.57 billion, a PE ratio of 32.99, 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 announced its 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 return on equity of 17.51% and a net margin of 14.78%. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share buyback 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 usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 $175,677.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 sale, the chief executive officer now owns 111,192 shares in the company, valued at approximately $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 have sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMO has been the subject of a number of research analyst reports. Bernstein Bank raised their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. UBS Group increased their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.