Thrive Wealth Management LLC Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Thrive Wealth Management LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,963 shares of the medical research company’s stock after selling 247 shares during the period. Thrive Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,542,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TMO. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $27,000. Decker Retirement Planning Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $43,000. HWG Holdings LP acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $50,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Thermo Fisher Scientific during the third quarter worth about $50,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.4 %

Shares of NYSE:TMO opened at $559.72 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $529.96 and a 200-day simple moving average of $568.33. The company has a market capitalization of $214.09 billion, a PE ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $5.69 EPS. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Friday, November 15th 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TMO. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Evercore ISI cut their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.