Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 3,909 shares of the medical research company’s stock after selling 21 shares during the period. Cigna Investments Inc. New’s holdings in Thermo Fisher Scientific were worth $2,033,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TMO. Stonebridge Financial Group LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $103,000. Violich Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 13.7% in the fourth quarter. Violich Capital Management Inc. now owns 1,152 shares of the medical research company’s stock valued at $599,000 after acquiring an additional 139 shares during the period. Sapient Capital LLC raised its stake in shares of Thermo Fisher Scientific by 35.9% in the fourth quarter. Sapient Capital LLC now owns 1,715 shares of the medical research company’s stock valued at $893,000 after purchasing an additional 453 shares in the last quarter. Panoramic Capital Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at $218,000. Finally, Arlington Partners LLC raised its stake in shares of Thermo Fisher Scientific by 4.6% in the fourth quarter. Arlington Partners LLC now owns 6,958 shares of the medical research company’s stock valued at $3,620,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $11,231,699 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank increased their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Raymond James restated an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $553.02 on Tuesday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $547.34 and a two-hundred day simple moving average of $572.24. The stock has a market cap of $211.53 billion, a PE ratio of 33.46, a PEG ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping 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%. 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 of Directors has initiated a share repurchase plan 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 plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.