Kingsview Wealth Management LLC Sells 62 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kingsview Wealth Management LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,603 shares of the medical research company’s stock after selling 62 shares during the period. Kingsview Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $11,507,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TMO. BDF Gestion acquired a new stake in Thermo Fisher Scientific in the second quarter worth $6,368,000. Nisa Investment Advisors LLC grew its holdings in Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares during the period. Simplify Asset Management Inc. grew its holdings in Thermo Fisher Scientific by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after purchasing an additional 5,546 shares during the period. Simmons Bank boosted its holdings in Thermo Fisher Scientific by 60.2% during the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after purchasing an additional 3,090 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in Thermo Fisher Scientific by 216.6% during the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock worth $890,000 after purchasing an additional 1,122 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was 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 in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $513.26 on Friday. The company has a 50 day moving average price of $575.70 and a 200-day moving average price of $580.10. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $196.32 billion, a PE ratio of 32.18, a P/E/G ratio of 3.41 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88.

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, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during 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 firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.69 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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 is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

About Thermo Fisher Scientific

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.