Thermo Fisher Scientific Inc. $TMO Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 80.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,002 shares of the medical research company’s stock after selling 8,432 shares during the quarter. Portside Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $971,000 at the end of the most recent reporting period.

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

Thermo Fisher Scientific Stock Performance

TMO opened at $541.94 on Friday. The company has a market cap of $203.61 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 3.26 and a beta of 0.93. The firm’s fifty day simple moving average is $591.73 and its two-hundred day simple moving average is $541.12. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

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

Thermo Fisher Scientific declared that its board has authorized a share buyback program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TMO shares. Stifel Nicolaus boosted their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Leerink Partners upped their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. TD Cowen reduced their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a report on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. The transaction was disclosed in a document filed 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 on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 114,292 shares of company stock valued at $66,518,754. Insiders own 0.33% of the company’s stock.

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.