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

Kingsview Wealth Management LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 70.2% in the 3rd quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 126.9% in 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 last quarter. Capital A Wealth Management LLC grew its stake in Thermo Fisher Scientific by 825.0% in 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 last quarter. Cloud Capital Management LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 35.1% in the third 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 during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TMO shares. The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target for the company. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Citigroup raised their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. TD Cowen decreased 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 report on Friday, January 30th. Finally, Evercore reiterated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $513.19 on Thursday. The company’s 50-day moving average price is $570.10 and its two-hundred day moving average price is $548.43. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. 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 firm has a market cap of $190.64 billion, a P/E ratio of 28.93, a P/E/G ratio of 2.93 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the firm posted $6.10 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

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

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.