Davis R M Inc. Sells 2,494 Shares of Thermo Fisher Scientific Inc. $TMO

Davis R M Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,879 shares of the medical research company’s stock after selling 2,494 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.1% of Davis R M Inc.’s investment portfolio, making the stock its 27th biggest holding. Davis R M Inc.’s holdings in Thermo Fisher Scientific were worth $61,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Cloud Capital Management LLC bought a new position in Thermo Fisher Scientific in the third quarter valued at approximately $31,000. Capital A Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares during the last quarter. Finally, Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 0.1%

Shares of TMO opened at $520.80 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The firm has a market cap of $193.47 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.01 and a beta of 0.96. The business’s fifty day moving average is $574.24 and its 200-day moving average is $548.38.

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

Thermo Fisher Scientific announced that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

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

Insider Buying and Selling

In related news, COO Michel Lagarde sold 22,046 shares of the 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 completion of the sale, the chief operating officer directly owned 84,117 shares in the company, valued at $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares in the company, valued at $8,360,731.98. The trade was a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,358 shares of company stock worth $52,789,173 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TMO shares. TD Cowen cut their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target for the company. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. Finally, Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

About Thermo Fisher Scientific

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.