CNB Bank Acquires 124 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

CNB Bank grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,619 shares of the medical research company’s stock after purchasing an additional 124 shares during the period. CNB Bank’s holdings in Thermo Fisher Scientific were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TMO. International Assets Investment Management LLC increased its holdings in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. FMR LLC raised its position in shares of Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $254,412,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Thermo Fisher Scientific by 743.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, 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 transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley cut their price objective on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company dropped their price target on 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. Stephens began coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four investment 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. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Stock Down 0.2 %

Shares of TMO opened at $560.40 on Friday. The company has a market cap of $214.35 billion, a PE ratio of 35.19, a P/E/G ratio of 3.59 and a beta of 0.76. The business has a fifty day moving average of $529.69 and a 200 day moving average of $568.01. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $5.69 EPS. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

About Thermo Fisher Scientific

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.