Simplicity Wealth LLC Trims Stake in Thermo Fisher Scientific Inc. $TMO

Simplicity Wealth LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 52.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,082 shares of the medical research company’s stock after selling 1,191 shares during the period. Simplicity Wealth LLC’s holdings in Thermo Fisher Scientific were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TMO. Vanguard Group Inc. boosted its stake in Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after acquiring an additional 309,207 shares in the last quarter. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $2,264,615,000. Franklin Resources Inc. boosted its stake in Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock worth $1,985,759,000 after purchasing an additional 498,238 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after acquiring an additional 74,971 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Thermo Fisher Scientific by 25.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock worth $1,424,503,000 after acquiring an additional 594,218 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

TMO opened at $625.42 on Friday. The company’s 50 day moving average is $590.88 and its 200 day moving average is $531.60. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a market cap of $234.98 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 4.12 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99.

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

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its board has approved a share buyback plan on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on TMO shares. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a report on Wednesday, October 8th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group raised their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Finally, Citigroup upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the company from $580.00 to $660.00 in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president owned 18,731 shares in the company, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $8,360,731.98. The trade was a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 131,767 shares of company stock valued at $76,467,793. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Company Profile

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.