Financial Advocates Investment Management Has $1.16 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Financial Advocates Investment Management decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,236 shares of the medical research company’s stock after selling 1,499 shares during the quarter. Financial Advocates Investment Management’s holdings in Thermo Fisher Scientific were worth $1,163,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $27,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter worth $43,000. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Scotiabank raised their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Finally, UBS Group boosted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $571.44 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The firm’s 50 day moving average is $546.51 and its 200-day moving average is $571.95. The company has a market capitalization of $218.58 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 4.06 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 quarterly earnings data 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%. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by insiders.

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.