Gibbs Wealth Management Sells 6,056 Shares of Thermo Fisher Scientific Inc. $TMO

Gibbs Wealth Management lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 88.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 779 shares of the medical research company’s stock after selling 6,056 shares during the period. Gibbs Wealth Management’s holdings in Thermo Fisher Scientific were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Vanguard Group Inc. grew its position in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after buying an additional 309,207 shares during the period. Norges Bank purchased a new stake in Thermo Fisher Scientific in the second quarter worth about $2,264,615,000. Franklin Resources Inc. increased its stake in shares of Thermo Fisher Scientific by 11.3% during the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Thermo Fisher Scientific by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Thermo Fisher Scientific by 25.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock worth $1,424,503,000 after buying an additional 594,218 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 2.2%

Thermo Fisher Scientific stock opened at $625.42 on Monday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.11 and a beta of 0.91. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $590.88 and a two-hundred day simple moving average of $532.39.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This represents a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 124,517 shares of company stock worth $72,363,568. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Argus lifted their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $625.47.

Thermo Fisher Scientific 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.