Thermo Fisher Scientific Inc. $TMO Shares Sold by Nuance Investments LLC

Nuance Investments LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 39.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,997 shares of the medical research company’s stock after selling 34,898 shares during the period. Thermo Fisher Scientific makes up 2.6% of Nuance Investments LLC’s portfolio, making the stock its 13th biggest position. Nuance Investments LLC’s holdings in Thermo Fisher Scientific were worth $25,705,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TMO. Highline Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Capital A Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth about $33,000. Finally, Harbor Asset Planning Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter worth about $34,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

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

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

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on TMO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Argus boosted their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Evercore reissued an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the sale, the vice president owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This trade represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 114,292 shares of company stock valued at $66,518,754. 0.33% of the stock is currently owned by insiders.

About Thermo Fisher Scientific

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.