Castle Wealth Management LLC Raises Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Castle Wealth Management LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% during the 4th quarter, Holdings Channel reports. The fund owned 2,861 shares of the medical research company’s stock after purchasing an additional 94 shares during the period. Castle Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,490,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $157,000. Fiera Capital Corp raised its holdings in shares of Thermo Fisher Scientific by 11.2% during the 4th quarter. Fiera Capital Corp now owns 155,552 shares of the medical research company’s stock worth $80,923,000 after acquiring an additional 15,629 shares in the last quarter. Three Bridge Wealth Advisors LLC purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at $273,000. Naples Global Advisors LLC raised its holdings in Thermo Fisher Scientific by 5.7% during the 4th quarter. Naples Global Advisors LLC now owns 756 shares of the medical research company’s stock valued at $394,000 after buying an additional 41 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Thermo Fisher Scientific by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 418,365 shares of the medical research company’s stock valued at $217,646,000 after buying an additional 68,927 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

TMO opened at $538.31 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The business’s fifty day simple moving average is $548.02 and its 200-day simple moving average is $571.52. The company has a market capitalization of $205.90 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.18 and a beta of 0.77. 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 issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on TMO. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Raymond James restated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Citigroup increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company increased their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock valued at $11,231,699 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Company 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.