First Citizens Bank & Trust Co. Sells 406 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

First Citizens Bank & Trust Co. trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,101 shares of the medical research company’s stock after selling 406 shares during the period. First Citizens Bank & Trust Co.’s holdings in Thermo Fisher Scientific were worth $11,498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TMO. International Assets Investment Management LLC raised its holdings in Thermo Fisher Scientific by 76,051.4% during the third 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 raised its stake in Thermo Fisher Scientific by 19.7% during the 3rd 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 Thermo Fisher Scientific in the 3rd quarter worth approximately $254,412,000. Lindsell Train Ltd purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $211,858,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after buying an additional 262,062 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Up 0.1 %

Shares of NYSE:TMO opened at $575.21 on Friday. 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 $533.60 and its 200-day simple moving average is $569.32. The company has a market capitalization of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $10.63 billion. During the same period last year, the business earned $5.69 EPS. The company’s revenue was up .2% compared to the same quarter last year. 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 of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,850 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total value of $3,263,656.50. Following the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,611,804.88. This represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 44,850 shares of company stock worth $24,666,097. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

TMO has been the topic of a number of research reports. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Bank of America cut their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Scotiabank began coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price objective for the company. Finally, Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.