Avantax Planning Partners Inc. Sells 1,989 Shares of Thermo Fisher Scientific Inc. $TMO

Avantax Planning Partners Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,204 shares of the medical research company’s stock after selling 1,989 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Thermo Fisher Scientific were worth $2,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in 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 worth $29,000 after buying an additional 33 shares during the last quarter. Capital A Wealth Management LLC increased its stake in shares of 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 acquiring an additional 66 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its stake in Thermo Fisher Scientific by 406.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares during the last quarter. HighMark Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 45 shares during the period. Finally, Howard Hughes Medical Institute bought a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective on the stock. TD Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. Finally, Leerink Partners lifted their price target on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Buying and Selling

In related news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Lisa P. Britt sold 1,058 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the transaction, the vice president directly owned 13,087 shares in the company, valued at $7,698,558.62. This trade represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 124,517 shares of company stock worth $72,363,568. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $625.42 on Monday. The stock has a market capitalization of $234.98 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 4.11 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The firm has a fifty day simple moving average of $590.88 and a 200 day simple moving average of $532.39. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a $0.43 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s payout ratio is currently 9.94%.

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

Thermo Fisher Scientific Company Profile

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.