Root Financial Partners LLC Purchases New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Root Financial Partners LLC purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 482 shares of the medical research company's stock, valued at approximately $251,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $28,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $30,000. Institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank raised their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a report on Monday, February 3rd. Bank of America lowered their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a report on Friday, December 13th. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein raised Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Finally, Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $658.00.

Thermo Fisher Scientific Trading Down 1.7 %

Shares of Thermo Fisher Scientific stock traded down $8.94 during trading on Tuesday, reaching $522.91. 2,926,632 shares of the stock were exchanged, compared to its average volume of 2,078,792. 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 stock's fifty day moving average is $548.41 and its 200 day moving average is $569.27. The firm has a market cap of $200.01 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 directly owns 111,192 shares in the company, 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 document filed 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 that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company's stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 over the last three months. Company insiders own 0.34% of the company's stock.

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.