TRUE Private Wealth Advisors Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

TRUE Private Wealth Advisors lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 78.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 371 shares of the medical research company’s stock after selling 1,376 shares during the period. TRUE Private Wealth Advisors’ holdings in Thermo Fisher Scientific were worth $230,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TMO. BDF Gestion purchased a new position in Thermo Fisher Scientific during the second quarter worth about $6,368,000. Nisa Investment Advisors LLC boosted its position in shares of 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 acquiring an additional 8,180 shares during the last quarter. Summit Trail Advisors LLC increased its position in Thermo Fisher Scientific by 29.2% during the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after purchasing an additional 1,214 shares during the last quarter. Simplify Asset Management Inc. raised its stake in Thermo Fisher Scientific by 67.4% during 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. Finally, Simmons Bank grew its position 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 valued at $5,087,000 after acquiring an additional 3,090 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Barclays decreased their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 1.5 %

Thermo Fisher Scientific stock opened at $529.63 on Friday. The firm’s 50-day moving average is $566.33 and its 200-day moving average is $577.84. Thermo Fisher Scientific Inc. has a 1 year low of $487.06 and a 1 year high of $627.88. The company has a market cap of $202.58 billion, a P/E ratio of 33.21, a PEG ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm posted $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific declared that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.