Pillar Pacific Capital Management LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,482 shares of the medical research company’s stock after selling 726 shares during the period. Thermo Fisher Scientific accounts for 2.0% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 5th biggest position. Pillar Pacific Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $24,446,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in TMO. Dimension Capital Management LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $31,000. Column Capital Advisors LLC raised its stake in Thermo Fisher Scientific by 108.3% in the 3rd quarter. Column Capital Advisors LLC now owns 75 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 39 shares during the period. Anderson Fisher LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $34,000. ARK Investment Management LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $34,000. Finally, Larson Financial Group LLC increased its position in Thermo Fisher Scientific by 38.5% during the 4th quarter. Larson Financial Group LLC now owns 72 shares of the medical research company’s stock worth $34,000 after buying an additional 20 shares during the period. Institutional investors own 87.17% of the company’s stock.
Shares of TMO traded down $3.66 during trading hours on Tuesday, reaching $459.62. The stock had a trading volume of 36,797 shares, compared to its average volume of 1,767,478. Thermo Fisher Scientific Inc. has a 12 month low of $250.21 and a 12 month high of $532.57. The stock has a market capitalization of $182.16 billion, a PE ratio of 37.97, a PEG ratio of 1.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.31 and a current ratio of 2.93. The company’s 50-day moving average is $500.86 and its two-hundred day moving average is $464.08.
Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Thursday, November 5th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the medical research company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, COO Mark Stevenson sold 14,133 shares of the firm’s stock in a transaction on Monday, December 7th. The stock was sold at an average price of $473.84, for a total transaction of $6,696,780.72. Following the completion of the transaction, the chief operating officer now directly owns 58,005 shares of the company’s stock, valued at approximately $27,485,089.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.44% of the stock is owned by company insiders.
Several research analysts have weighed in on TMO shares. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $535.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 2nd. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $512.00 to $523.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 2nd. Stifel Nicolaus increased their price objective on Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $550.00 to $500.00 in a research note on Wednesday, December 16th. Finally, Needham & Company LLC lifted their price objective on Thermo Fisher Scientific from $477.00 to $539.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $527.47.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
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