Legacy Wealth Management LLC MS Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Legacy Wealth Management LLC MS increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,308 shares of the medical research company’s stock after buying an additional 244 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.0% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 29th largest holding. Legacy Wealth Management LLC MS’s holdings in Thermo Fisher Scientific were worth $2,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $43,000. Miracle Mile Advisors LLC lifted its position in Thermo Fisher Scientific by 5.9% during the 2nd quarter. Miracle Mile Advisors LLC now owns 5,760 shares of the medical research company’s stock valued at $3,185,000 after acquiring an additional 320 shares during the period. Pure Financial Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 27.3% during the second quarter. Pure Financial Advisors LLC now owns 522 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 112 shares in the last quarter. Blue Trust Inc. increased its position in shares of Thermo Fisher Scientific by 30.3% during the second quarter. Blue Trust Inc. now owns 829 shares of the medical research company’s stock valued at $482,000 after acquiring an additional 193 shares in the last quarter. Finally, Rovin Capital UT ADV increased its holdings in Thermo Fisher Scientific by 12.5% in the 2nd quarter. Rovin Capital UT ADV now owns 629 shares of the medical research company’s stock worth $348,000 after buying an additional 70 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TMO shares. Sanford C. Bernstein reduced their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Finally, Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.4 %

TMO stock traded down $1.93 during midday trading on Friday, reaching $522.68. 382,630 shares of the company were exchanged, compared to its average volume of 1,534,896. The stock’s 50-day simple moving average is $551.83 and its 200 day simple moving average is $574.11. The company has a market cap of $199.93 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a share repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.