Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by First County Bank CT

First County Bank CT lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,332 shares of the medical research company’s stock after selling 277 shares during the period. First County Bank CT’s holdings in Thermo Fisher Scientific were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $50,000. HWG Holdings LP purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $50,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Thermo Fisher Scientific during the third quarter worth about $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded up $8.15 during midday trading on Tuesday, hitting $545.34. 1,141,568 shares of the company’s stock were exchanged, compared to its average volume of 1,594,854. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a market cap of $208.59 billion, a P/E ratio of 34.19, a PEG ratio of 3.54 and a beta of 0.76. The stock’s 50 day moving average price is $530.39 and its 200-day moving average price is $568.53.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the business posted $5.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday. Sanford C. Bernstein reduced their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Bank of America dropped their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $650.05.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business’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 completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 over the last three months. 0.34% of the stock is owned by corporate insiders.

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.