Thermo Fisher Scientific Inc. (NYSE:TMO) Position Cut by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,603 shares of the medical research company’s stock after selling 62 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $11,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in Thermo Fisher Scientific by 20.4% during the 3rd quarter. Cerity Partners LLC now owns 181,424 shares of the medical research company’s stock valued at $112,224,000 after purchasing an additional 30,687 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in Thermo Fisher Scientific by 6.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,623 shares of the medical research company’s stock valued at $7,189,000 after purchasing an additional 739 shares in the last quarter. Leelyn Smith LLC boosted its stake in Thermo Fisher Scientific by 3.8% during the 3rd quarter. Leelyn Smith LLC now owns 6,980 shares of the medical research company’s stock valued at $4,318,000 after purchasing an additional 257 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $1,147,000. Finally, Nwam LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $3,906,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TMO. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Evercore ISI reduced their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Morgan Stanley increased their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock worth $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.6 %

Thermo Fisher Scientific stock opened at $513.26 on Friday. The company’s 50-day moving average price is $575.70 and its two-hundred day moving average price is $580.10. Thermo Fisher Scientific Inc. has a twelve month low of $480.57 and a twelve month high of $627.88. The stock has a market cap of $196.32 billion, a P/E ratio of 32.18, a P/E/G ratio of 3.41 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.69 EPS. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

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 reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.