RKL Wealth Management LLC Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

RKL Wealth Management LLC lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,013 shares of the medical research company’s stock after selling 123 shares during the quarter. Thermo Fisher Scientific comprises 0.7% of RKL Wealth Management LLC’s holdings, making the stock its 25th largest position. RKL Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $7,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Finally, Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.8 %

NYSE:TMO opened at $531.74 on Friday. The firm has a market cap of $200.60 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The stock has a fifty day moving average price of $549.11 and a 200 day moving average price of $562.68. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding 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 usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is 10.41%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock valued at $11,095,799 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group increased their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday. Raymond James reissued an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $653.23.

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.