RKL Wealth Management LLC Decreases Stock Position in Thermo Fisher Scientific Inc. $TMO

RKL Wealth Management LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,205 shares of the medical research company’s stock after selling 2,068 shares during the quarter. Thermo Fisher Scientific accounts for about 0.5% of RKL Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. RKL Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Highline Wealth Partners LLC boosted its stake 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 purchasing an additional 33 shares during the period. Capital A Wealth Management LLC boosted its position in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the period. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter worth $31,000. Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $514.20 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $193.19 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.97 and a beta of 0.93. The business’s 50 day moving average price is $576.02 and its 200-day moving average price is $547.25. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

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

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity

In related news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,271 shares of company stock worth $56,920,935 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TMO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Citigroup upped their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Evercore restated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, TD Cowen cut their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $633.68.

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.