AE Wealth Management LLC Increases Stock Holdings in Thermo Fisher Scientific Inc. $TMO

AE Wealth Management LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,981 shares of the medical research company’s stock after buying an additional 5,334 shares during the quarter. AE Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $33,458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TMO. Financial Management Network Inc. lifted its stake in shares of Thermo Fisher Scientific by 3.7% during the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares during the period. Bruce G. Allen Investments LLC lifted its position in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares during the period. Elevation Wealth Partners LLC grew its stake in Thermo Fisher Scientific by 35.1% during the 3rd 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. Revolve Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares during the period. Finally, S.A. Mason LLC boosted its position in Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $608.00 on Thursday. The firm has a market capitalization of $228.43 billion, a PE ratio of 35.12, a PEG ratio of 4.10 and a beta of 0.91. 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 Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The firm’s 50-day moving average price is $593.74 and its 200 day moving average price is $535.61.

Thermo Fisher Scientific Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note 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 report on Wednesday, January 7th. Finally, Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $625.47.

Insider Buying and Selling

In other Thermo Fisher Scientific news, 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 transaction, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michel Lagarde sold 22,046 shares of the firm’s 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 sale, the chief operating officer owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This represents a 20.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 124,517 shares of company stock valued at $72,363,568 over the last 90 days. Insiders own 0.33% of the company’s stock.

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.