Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Envestnet Portfolio Solutions Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,430 shares of the medical research company’s stock after selling 1,904 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Thermo Fisher Scientific were worth $15,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Highline Wealth Partners LLC increased its position in shares of 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 valued at $29,000 after buying an additional 33 shares during the period. Capital A Wealth Management LLC grew its stake in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in Thermo Fisher Scientific by 406.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares during the period. HighMark Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 140.6% in the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the completion of the sale, the chief executive officer owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. The trade was a 32.48% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 131,767 shares of company stock valued at $76,467,793. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $625.42 on Friday. The firm has a market cap of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.21 and a beta of 0.91. The firm’s fifty day moving average is $590.88 and its 200 day moving average is $530.87. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.28 earnings per share. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

TMO has been the topic of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Stifel Nicolaus raised their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. UBS Group boosted their price objective on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Leerink Partners raised their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Redburn Partners set a $580.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $625.47.

About Thermo Fisher Scientific

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.