Glenview Trust Co reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,931 shares of the medical research company’s stock after selling 1,628 shares during the quarter. Glenview Trust Co’s holdings in Thermo Fisher Scientific were worth $10,698,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Thermo Fisher Scientific by 1.4% during the 2nd quarter. BlackRock Inc. now owns 27,643,905 shares of the medical research company’s stock worth $8,118,461,000 after purchasing an additional 392,227 shares in the last quarter. State Street Corp boosted its stake in Thermo Fisher Scientific by 1.4% during the fourth quarter. State Street Corp now owns 16,337,869 shares of the medical research company’s stock worth $5,310,745,000 after buying an additional 224,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Thermo Fisher Scientific by 0.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,697,748 shares of the medical research company’s stock worth $551,547,000 after buying an additional 13,801 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Thermo Fisher Scientific by 3.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,203,808 shares of the medical research company’s stock valued at $350,633,000 after buying an additional 37,955 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Thermo Fisher Scientific by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 1,151,699 shares of the medical research company’s stock valued at $374,152,000 after buying an additional 6,785 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.
Shares of TMO traded down $0.22 during trading hours on Friday, hitting $335.37. The stock had a trading volume of 9,484 shares, compared to its average volume of 1,471,662. The stock has a market capitalization of $133.91 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 1.77 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.91 and a quick ratio of 1.37. The company’s fifty day moving average is $329.21 and its two-hundred day moving average is $303.08. Thermo Fisher Scientific Inc. has a 52 week low of $245.74 and a 52 week high of $342.26.
Thermo Fisher Scientific declared that its board has initiated a share buyback plan on Friday, November 8th that allows the company to repurchase $2.50 million in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Jim P. Manzi sold 4,410 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $332.32, for a total transaction of $1,465,531.20. Following the completion of the sale, the director now owns 21,632 shares of the company’s stock, valued at $7,188,746.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.45% of the company’s stock.
TMO has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $319.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Cowen reiterated an “outperform” rating and set a $365.00 target price (up from $330.00) on shares of Thermo Fisher Scientific in a research report on Monday, January 6th. Credit Suisse Group began coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, January 22nd. They issued a “neutral” rating and a $341.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Co cut their price target on shares of Thermo Fisher Scientific from $350.00 to $345.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $335.20.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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