Oppenheimer & Co. Inc. Sells 1,097 Shares of Thermo Fisher Scientific Inc. $TMO

Oppenheimer & Co. Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,359 shares of the medical research company’s stock after selling 1,097 shares during the period. Oppenheimer & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $14,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Highline Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 126.9% in 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 in the last quarter. Capital A Wealth Management LLC increased its position 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 worth $30,000 after buying an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $31,000. Howard Hughes Medical Institute purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $34,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the sale, the chief operating officer directly owned 84,117 shares in the company, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, November 25th. The stock was 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 owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 114,292 shares of company stock worth $66,518,754. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Citigroup upped their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Trading Up 0.2%

Shares of TMO stock opened at $543.46 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $204.18 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 3.13 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The stock’s 50-day moving average price is $590.76 and its 200-day moving average price is $543.42.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly 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. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.10 EPS. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Company 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.