Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,383 shares of the medical research company’s stock after selling 69 shares during the period. AMG National Trust Bank’s holdings in Thermo Fisher Scientific were worth $1,240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after purchasing an additional 286 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 5.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,587 shares of the medical research company’s stock valued at $2,219,000 after purchasing an additional 179 shares during the last quarter. Graypoint LLC lifted its stake in shares of Thermo Fisher Scientific by 1.4% in the 3rd quarter. Graypoint LLC now owns 2,992 shares of the medical research company’s stock valued at $1,851,000 after purchasing an additional 41 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock valued at $771,876,000 after purchasing an additional 225,568 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in shares of Thermo Fisher Scientific by 2.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,209 shares of the medical research company’s stock valued at $4,459,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,095,799 in the last quarter. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a report on Friday, January 10th. Finally, Scotiabank boosted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Trading Up 0.8 %

TMO opened at $531.74 on Friday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company has a market cap of $200.60 billion, a P/E ratio of 32.17, a PEG ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The business’s 50-day simple moving average is $549.11 and its 200-day simple moving average is $562.68.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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 return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

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

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.