BTC Capital Management Inc. Sells 284 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

BTC Capital Management Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,855 shares of the medical research company’s stock after selling 284 shares during the period. BTC Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $6,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after acquiring an additional 1,414,556 shares during the period. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $254,412,000. Lindsell Train Ltd bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $211,858,000. Finally, Franklin Resources Inc. raised its stake in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 6.8 %

Shares of NYSE:TMO opened at $607.06 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $232.20 billion, a PE ratio of 38.06, a P/E/G ratio of 3.89 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The business’s fifty day simple moving average is $539.66 and its 200-day simple moving average is $570.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 29,000 shares of company stock valued at $15,859,540. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen increased their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bank of America reduced their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Royal Bank of Canada dropped their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific 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.