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

Legacy Wealth Management LLC MS grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the third quarter, HoldingsChannel reports. 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 makes up about 1.0% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 29th largest position. Legacy Wealth Management LLC MS’s holdings in Thermo Fisher Scientific were worth $2,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth approximately $27,000. Signature Resources Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter worth $29,000. Finally, Stephens Consulting LLC boosted its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent research reports. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Sanford C. Bernstein lowered their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Bank of America lifted their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company dropped their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $1.93 on Friday, reaching $522.68. 382,630 shares of the stock traded hands, compared to its average volume of 1,534,896. The firm has a market cap of $199.93 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock’s 50-day moving average price is $551.83 and its 200-day moving average price is $574.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the business earned $5.69 EPS. The firm’s revenue was up .2% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.