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

TRUE Private Wealth Advisors trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 3.0% in the third quarter, HoldingsChannel.com reports. The firm owned 1,013 shares of the medical research company’s stock after selling 31 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Thermo Fisher Scientific were worth $514,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC lifted its stake in Thermo Fisher Scientific by 2.7% during the second quarter. Opal Wealth Advisors LLC now owns 643 shares of the medical research company’s stock worth $349,000 after purchasing an additional 17 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its stake in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 987 shares of the medical research company’s stock worth $536,000 after buying an additional 17 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Thermo Fisher Scientific by 11.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 169 shares of the medical research company’s stock worth $92,000 after buying an additional 18 shares during the period. Tradition Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 2.2% during the second quarter. Tradition Wealth Management LLC now owns 837 shares of the medical research company’s stock valued at $455,000 after acquiring an additional 18 shares during the period. Finally, Hemington Wealth Management grew its position in shares of Thermo Fisher Scientific by 3.9% during the second quarter. Hemington Wealth Management now owns 506 shares of the medical research company’s stock worth $275,000 after acquiring an additional 19 shares during the last quarter. 85.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Debora L. Spar sold 200 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the sale, the director now directly owns 979 shares of the company’s stock, valued at $549,600.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gianluca Pettiti sold 4,975 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $576.84, for a total transaction of $2,869,779.00. Following the sale, the executive vice president now owns 16,450 shares in the company, valued at $9,489,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Debora L. Spar sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the completion of the transaction, the director now directly owns 979 shares of the company’s stock, valued at approximately $549,600.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,475 shares of company stock worth $16,073,443. Insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Trading Down 4.0 %

Shares of TMO stock opened at $580.72 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $556.73 and a 200 day simple moving average of $547.95. Thermo Fisher Scientific Inc. has a fifty-two week low of $475.77 and a fifty-two week high of $618.35. The stock has a market capitalization of $227.76 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.11 and a beta of 0.83.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The medical research company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.30. Thermo Fisher Scientific had a net margin of 15.92% and a return on equity of 22.97%. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $9.86 billion. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.04 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Thursday, November 10th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Thursday, December 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.21%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.75%.

Analyst Ratings Changes

A number of research analysts have issued reports on TMO shares. StockNews.com began coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Citigroup decreased their price objective on Thermo Fisher Scientific from $715.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, October 27th. Benchmark downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Morgan Stanley lowered their price target on Thermo Fisher Scientific from $678.00 to $613.00 and set an “overweight” rating on the stock in a report on Thursday, October 27th. Finally, Barclays upped their price objective on shares of Thermo Fisher Scientific from $570.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.30.

Thermo Fisher Scientific Company Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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