Independent Solutions Wealth Management LLC Sells 51 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Independent Solutions Wealth Management LLC decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757 shares of the medical research company’s stock after selling 51 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $27,000. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC lifted its position in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $50,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’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 sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

TMO traded up $2.10 during trading on Thursday, reaching $518.28. 1,228,041 shares of the company traded hands, compared to its average volume of 1,547,501. The firm has a fifty day simple moving average of $546.04 and a 200 day simple moving average of $572.86. 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 Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a market cap of $198.24 billion, a P/E ratio of 32.49, a PEG ratio of 3.54 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.69 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend 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 currently 9.78%.

Analyst Ratings Changes

Several equities analysts have commented on TMO shares. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America lowered their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Bernstein Bank increased their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Finally, Royal Bank of Canada dropped their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $652.30.

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.