Kingsview Wealth Management LLC Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kingsview Wealth Management LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,297 shares of the medical research company’s stock after acquiring an additional 1,694 shares during the period. Kingsview Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $10,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $27,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Down 0.2 %

NYSE TMO opened at $571.44 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $546.51 and its 200 day moving average is $571.95. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a market cap of $218.58 billion, a PE ratio of 34.57, a P/E/G ratio of 3.18 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMO. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Raymond James reaffirmed an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $658.00.

Thermo Fisher Scientific Company Profile

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.