Princeton Global Asset Management LLC Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Princeton Global Asset Management LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,698 shares of the medical research company’s stock after selling 55 shares during the quarter. Thermo Fisher Scientific comprises 1.6% of Princeton Global Asset Management LLC’s portfolio, making the stock its 14th largest holding. Princeton Global Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $4,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Bfsg LLC grew its holdings in Thermo Fisher Scientific by 3.1% during the 3rd quarter. Bfsg LLC now owns 662 shares of the medical research company’s stock valued at $292,000 after buying an additional 20 shares in the last quarter. Larson Financial Group LLC grew its holdings in Thermo Fisher Scientific by 38.5% during the 4th quarter. Larson Financial Group LLC now owns 72 shares of the medical research company’s stock valued at $34,000 after buying an additional 20 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Thermo Fisher Scientific by 0.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,921 shares of the medical research company’s stock valued at $3,224,000 after buying an additional 20 shares in the last quarter. S.A. Mason LLC grew its holdings in Thermo Fisher Scientific by 8.7% during the 4th quarter. S.A. Mason LLC now owns 250 shares of the medical research company’s stock valued at $116,000 after buying an additional 20 shares in the last quarter. Finally, Oakworth Capital Inc. grew its holdings in Thermo Fisher Scientific by 1.0% during the 3rd quarter. Oakworth Capital Inc. now owns 2,271 shares of the medical research company’s stock valued at $1,003,000 after buying an additional 22 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Shares of TMO stock traded down $7.77 during mid-day trading on Tuesday, reaching $455.51. 27,346 shares of the company’s stock traded hands, compared to its average volume of 1,767,478. Thermo Fisher Scientific Inc. has a 12 month low of $250.21 and a 12 month high of $532.57. The firm has a 50 day moving average price of $500.86 and a two-hundred day moving average price of $464.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.31 and a current ratio of 2.93. The firm has a market capitalization of $180.53 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Sunday, January 31st. The medical research company reported $7.09 EPS for the quarter, topping analysts’ consensus estimates of $6.56 by $0.53. Thermo Fisher Scientific had a net margin of 17.12% and a return on equity of 21.35%. The company had revenue of $10.55 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the business earned $3.55 EPS. The firm’s revenue was up 54.5% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 19.03 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 5th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other Thermo Fisher Scientific news, COO Mark Stevenson sold 14,113 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $476.46, for a total transaction of $6,724,279.98. Following the transaction, the chief operating officer now owns 58,005 shares of the company’s stock, valued at $27,637,062.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.44% of the stock is owned by insiders.

TMO has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $535.00 to $575.00 and gave the company an “overweight” rating in a report on Tuesday, February 2nd. Credit Suisse Group boosted their price objective on Thermo Fisher Scientific from $556.00 to $580.00 in a report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $550.00 to $500.00 in a report on Wednesday, December 16th. BTIG Research boosted their price objective on Thermo Fisher Scientific from $540.00 to $590.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Finally, UBS Group increased their target price on Thermo Fisher Scientific from $566.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $527.47.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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