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

Manchester Capital Management LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.2% in the fourth quarter, according to the company in its most recent filing 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 quarter. Manchester Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $1,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TMO. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $28,000. Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 0.0 %

TMO stock opened at $532.58 on Friday. The stock has a market cap of $203.71 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.18 and a beta of 0.77. The business’s 50-day moving average is $548.45 and its 200 day moving average is $571.01. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 17.51% and a net margin of 14.78%. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TMO shares. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Bank of America decreased their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. UBS Group lifted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lowered their target price on 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 issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity

In related news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now 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 20,125 shares of company stock worth $11,231,699 over the last ninety days. 0.34% of the stock is currently owned by insiders.

About Thermo Fisher Scientific

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.