Wealthspire Advisors LLC Sells 64 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Wealthspire Advisors LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,007 shares of the medical research company’s stock after selling 64 shares during the quarter. Wealthspire Advisors LLC’s holdings in Thermo Fisher Scientific were worth $4,165,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at $27,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $28,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $28,000. Finally, Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $29,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.0 %

TMO stock opened at $532.55 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The stock has a market cap of $203.70 billion, a P/E ratio of 32.22, a PEG ratio of 2.99 and a beta of 0.77. The business’s 50-day moving average price is $548.47 and its 200-day moving average price is $567.32.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,125 shares of company stock valued at $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMO. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Finally, Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.86.

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.