AMJ Financial Wealth Management Sells 687 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

AMJ Financial Wealth Management trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,352 shares of the medical research company’s stock after selling 687 shares during the period. Thermo Fisher Scientific makes up approximately 2.8% of AMJ Financial Wealth Management’s investment portfolio, making the stock its 15th largest holding. AMJ Financial Wealth Management’s holdings in Thermo Fisher Scientific were worth $4,236,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TMO. Grayhawk Investment Strategies Inc. bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $26,000. Lowe Wealth Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 160.0% in the third quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 32 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 410.0% in the second quarter. Tortoise Investment Management LLC now owns 51 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 41 shares in the last quarter. Better Money Decisions LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. Finally, New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $29,000. 85.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, December 13th. They issued a “buy” rating and a $620.00 target price on the stock. StockNews.com started coverage on Thermo Fisher Scientific in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Benchmark downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Royal Bank of Canada started coverage on Thermo Fisher Scientific in a research report on Tuesday, December 6th. They set an “outperform” rating and a $661.00 price target on the stock. Finally, SVB Leerink boosted their price target on Thermo Fisher Scientific from $555.00 to $620.00 and gave the stock an “outperform” rating in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.30.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $575.55 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $225.73 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 2.11 and a beta of 0.83. The stock’s 50 day moving average is $556.73 and its 200-day moving average is $547.95. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $618.35.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical research company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.30. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $9.86 billion. Thermo Fisher Scientific had a return on equity of 22.97% and a net margin of 15.92%. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.04 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 16th. Investors of record on Thursday, December 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Wednesday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.75%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 10th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 200 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the completion of the sale, the director now directly owns 979 shares in the company, valued at $549,600.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 200 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the completion of the sale, the director now directly owns 979 shares in the company, valued at $549,600.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 4,975 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $576.84, for a total value of $2,869,779.00. Following the sale, the executive vice president now owns 16,450 shares of the company’s stock, valued at $9,489,018. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,475 shares of company stock worth $16,073,443. Company insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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