RKL Wealth Management LLC Decreases Holdings in Thermo Fisher Scientific Inc. $TMO

RKL Wealth Management LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,205 shares of the medical research company’s stock after selling 2,068 shares during the period. Thermo Fisher Scientific comprises about 0.5% of RKL Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. RKL Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $5,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $734,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Thermo Fisher Scientific by 1.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 2,740 shares of the medical research company’s stock worth $1,111,000 after buying an additional 28 shares during the period. Finally, Howard Capital Management Inc. grew its stake in shares of Thermo Fisher Scientific by 29.0% during the 2nd quarter. Howard Capital Management Inc. now owns 2,979 shares of the medical research company’s stock valued at $1,209,000 after acquiring an additional 670 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the topic of several analyst reports. Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target for the company. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 98,271 shares of company stock worth $56,920,935. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $514.20 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The business has a 50 day simple moving average of $576.02 and a two-hundred day simple moving average of $547.25. The stock has a market capitalization of $193.19 billion, a PE ratio of 28.99, a P/E/G ratio of 2.97 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the company earned $6.10 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

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

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.