Simplicity Wealth LLC Lowers Holdings in Thermo Fisher Scientific Inc. $TMO

Simplicity Wealth LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 52.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,082 shares of the medical research company’s stock after selling 1,191 shares during the period. Simplicity Wealth LLC’s holdings in Thermo Fisher Scientific were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Management Network Inc. increased its holdings in Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Thermo Fisher Scientific by 8.8% in the third quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after purchasing an additional 19 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after buying an additional 20 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares in the last quarter. Finally, S.A. Mason LLC increased its stake in Thermo Fisher Scientific by 7.0% in the 3rd quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock worth $155,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the transaction, the vice president owned 14,145 shares of the company’s stock, valued at $8,085,564.90. This trade represents a 41.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 131,767 shares of company stock valued at $76,467,793. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.2%

Shares of NYSE TMO opened at $625.42 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The firm has a 50-day simple moving average of $590.88 and a two-hundred day simple moving average of $531.60. The company has a market cap of $234.98 billion, a P/E ratio of 36.13, a PEG ratio of 4.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. During the same period in the prior year, the business posted $5.28 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TMO shares. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Hsbc Global Res raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Barclays upped their target price on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.