Enterprise Bank & Trust Co lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,665 shares of the medical research company’s stock after selling 38 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Thermo Fisher Scientific were worth $2,427,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFG Advisors LLC increased its holdings in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after buying an additional 17 shares during the period. Trivant Custom Portfolio Group LLC raised its position in Thermo Fisher Scientific by 0.4% during the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after purchasing an additional 19 shares in the last quarter. Axiom Advisory LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock valued at $720,000 after purchasing an additional 19 shares in the last quarter. Angeles Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares in the last quarter. Finally, Bangor Savings Bank boosted its stake in Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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 in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock valued at $25,954,465 in the last 90 days. 0.34% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Stock Performance
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping 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 company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.
Thermo Fisher Scientific announced that its board has authorized a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.
Analysts Set New Price Targets
A number of research analysts have recently commented on TMO shares. Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI cut 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 research report on Thursday, October 24th. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada lowered their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.
View Our Latest Analysis on TMO
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.
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