Gibbs Wealth Management Lowers Holdings in Thermo Fisher Scientific Inc. $TMO

Gibbs Wealth Management lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 88.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 779 shares of the medical research company’s stock after selling 6,056 shares during the period. Gibbs Wealth Management’s holdings in Thermo Fisher Scientific were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Vanguard Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after buying an additional 309,207 shares in the last quarter. Norges Bank bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $2,264,615,000. Franklin Resources Inc. boosted its holdings in shares of Thermo Fisher Scientific by 11.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after purchasing an additional 74,971 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Thermo Fisher Scientific by 25.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock worth $1,424,503,000 after purchasing an additional 594,218 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

TMO stock opened at $625.42 on Monday. The stock has a market cap of $234.98 billion, a PE ratio of 36.13, a P/E/G ratio of 4.11 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a 50-day moving average price of $590.88 and a 200 day moving average price of $532.39. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.43 dividend. 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 is presently 9.94%.

Insiders Place Their Bets

In other news, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the sale, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares in the company, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 124,517 shares of company stock valued at $72,363,568 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on TMO. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Redburn Partners set a $580.00 target price on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research note on Sunday, December 7th. Finally, UBS Group upped their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.