Kingsview Wealth Management LLC Sells 16,361 Shares of Thermo Fisher Scientific Inc. $TMO

Kingsview Wealth Management LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 70.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,934 shares of the medical research company’s stock after selling 16,361 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $3,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lombard Odier Asset Management Switzerland SA grew its position in shares of Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after buying an additional 1,128 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Thermo Fisher Scientific during the third quarter valued at approximately $41,393,000. Weaver Capital Management LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $506,000. VELA Investment Management LLC boosted its position in shares of Thermo Fisher Scientific by 65.5% during the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after purchasing an additional 3,683 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. grew its holdings in shares of Thermo Fisher Scientific by 45.3% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 11,160 shares of the medical research company’s stock valued at $5,413,000 after buying an additional 3,480 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $513.19 on Thursday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company’s fifty day simple moving average is $570.10 and its 200-day simple moving average is $548.43. The firm has a market cap of $190.64 billion, a PE ratio of 28.93, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the previous year, the business earned $6.10 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TMO. Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. TD Cowen lowered their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Barclays boosted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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.