Canandaigua National Trust Co of Florida Sells 34 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Canandaigua National Trust Co of Florida cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 813 shares of the medical research company’s stock after selling 34 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Thermo Fisher Scientific were worth $423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC lifted its stake in shares of Thermo Fisher Scientific by 6.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 9,461 shares of the medical research company’s stock valued at $4,922,000 after acquiring an additional 555 shares during the last quarter. Doliver Advisors LP raised its position in Thermo Fisher Scientific by 1.6% in the fourth quarter. Doliver Advisors LP now owns 2,803 shares of the medical research company’s stock valued at $1,458,000 after purchasing an additional 44 shares during the last quarter. Kings Path Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 13.1% during the fourth quarter. Kings Path Partners LLC now owns 2,637 shares of the medical research company’s stock worth $1,372,000 after purchasing an additional 306 shares during the last quarter. Nordea Investment Management AB raised its holdings in Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after buying an additional 10,606 shares during the last quarter. Finally, Everence Capital Management Inc. grew its holdings in Thermo Fisher Scientific by 4.1% during the 4th quarter. Everence Capital Management Inc. now owns 18,519 shares of the medical research company’s stock worth $9,634,000 after acquiring an additional 730 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.8 %

NYSE:TMO traded up $4.45 on Monday, hitting $536.47. The stock had a trading volume of 1,951,916 shares, compared to its average volume of 1,651,959. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market cap of $205.20 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. The firm’s fifty day simple moving average is $530.72 and its two-hundred day simple moving average is $568.67. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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 net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the business earned $5.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

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

Analyst Ratings Changes

A number of equities analysts have recently commented on TMO shares. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Barclays decreased 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 research report on Wednesday, October 23rd. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.05.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

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.