Thermo Fisher Scientific Inc. $TMO Shares Sold by Accredited Wealth Management LLC

Accredited Wealth Management LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 96.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100 shares of the medical research company’s stock after selling 2,377 shares during the quarter. Accredited Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TMO. Highline Wealth Partners LLC increased its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $31,000. Capital A Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares during the period. Elevation Wealth Partners LLC boosted its holdings in 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 valued at $37,000 after acquiring an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in Thermo Fisher Scientific during the second quarter worth about $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 32,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were 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 in the company, valued at $38,200,377.20. This represents a 32.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the transaction, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 98,271 shares of company stock worth $56,920,935 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $520.80 on Friday. The firm has a market capitalization of $195.67 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.93. The stock’s fifty day moving average is $574.24 and its 200-day moving average is $547.94. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

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

Thermo Fisher Scientific declared that its board has initiated a stock repurchase 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TMO. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a report on Sunday, December 7th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. UBS Group reaffirmed a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Company 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.