Accredited Wealth Management LLC Reduces Holdings in Thermo Fisher Scientific Inc. $TMO

Accredited Wealth Management LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 96.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100 shares of the medical research company’s stock after selling 2,377 shares during the quarter. Accredited Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $49,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. TIAA Trust National Association boosted its position in shares of Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after purchasing an additional 11,817 shares in the last quarter. Lombard Odier Asset Management Switzerland SA boosted its holdings in Thermo Fisher Scientific by 8.4% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after acquiring an additional 1,128 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $41,393,000. Weaver Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $506,000. Finally, VELA Investment Management LLC boosted its stake in Thermo Fisher Scientific by 65.5% in the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after purchasing an additional 3,683 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TMO. The Goldman Sachs Group started 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 for the company. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Barclays increased their price objective on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Evercore reaffirmed an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, UBS Group reiterated a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $520.80 on Friday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The stock has a market cap of $195.67 billion, a PE ratio of 29.36, a P/E/G ratio of 3.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The stock has a 50 day moving average price of $574.24 and a 200 day moving average price of $547.94.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the prior year, the firm posted $6.10 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio is 9.70%.

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

Insider Activity

In other news, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the transaction, the chief operating officer directly owned 65,480 shares in the company, valued at approximately $38,200,377.20. This trade represents a 32.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 98,271 shares of company stock worth $56,920,935. Corporate insiders own 0.33% of the company’s stock.

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.