Simplicity Wealth LLC Sells 532 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Simplicity Wealth LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 31.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,146 shares of the medical research company's stock after selling 532 shares during the quarter. Simplicity Wealth LLC's holdings in Thermo Fisher Scientific were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Stonegate Investment Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock valued at $3,531,000 after purchasing an additional 18 shares in the last quarter. Semus Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company's stock worth $245,000 after acquiring an additional 18 shares during the period. Bangor Savings Bank grew its position in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock worth $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC grew its position in Thermo Fisher Scientific by 0.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock worth $3,882,000 after purchasing an additional 19 shares during the last quarter. Finally, Connable Office Inc. grew its position in Thermo Fisher Scientific by 0.3% in the 3rd quarter. Connable Office Inc. now owns 5,917 shares of the medical research company's stock worth $3,660,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have commented on TMO. UBS Group upped their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $653.23.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $1.80 during midday trading on Wednesday, reaching $512.40. The stock had a trading volume of 823,259 shares, compared to its average volume of 2,011,861. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm's fifty day simple moving average is $549.14 and its 200-day simple moving average is $560.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market capitalization of $193.31 billion, a P/E ratio of 31.00, a PEG ratio of 2.99 and a beta of 0.79.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.34%. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.41%.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company's stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $13,106,062 in the last ninety days. Insiders own 0.34% of the company's stock.

About Thermo Fisher Scientific

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.