Oppenheimer Asset Management Inc. Trims Stake in Thermo Fisher Scientific Inc. $TMO

Oppenheimer Asset Management Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 36.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,079 shares of the medical research company’s stock after selling 34,081 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $29,140,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Financial Management Network Inc. raised its holdings in Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after purchasing an additional 18 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares during the period. Elevation Wealth Partners LLC grew its holdings in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. Finally, S.A. Mason LLC increased its stake in shares of Thermo Fisher Scientific by 7.0% during the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 1,058 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total transaction of $622,379.08. Following the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 114,292 shares of company stock worth $66,518,754 in the last three months. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $543.46 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $590.76 and its 200-day moving average price is $543.42. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $204.18 billion, a PE ratio of 30.63, a PEG ratio of 3.13 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $6.10 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

TMO has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. UBS Group restated a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.