Manchester Capital Management LLC Sells 920 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Manchester Capital Management LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,235 shares of the medical research company’s stock after selling 920 shares during the period. Manchester Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $1,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IFG Advisors LLC grew its position in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares in the last quarter. Stonegate Investment Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after acquiring an additional 18 shares during the last quarter. Angeles Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after acquiring an additional 19 shares during the last quarter. Bangor Savings Bank raised its stake in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 19 shares during the last quarter. Finally, Eagle Rock Investment Company LLC raised its stake in Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock worth $11,231,699 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Down 0.0 %

NYSE TMO opened at $532.58 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company’s 50 day moving average price is $548.45 and its 200 day moving average price is $571.01. The firm has a market capitalization of $203.71 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus lowered their price objective 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. Citigroup increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Bank of America decreased their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Company 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.