Argent Trust Co Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Argent Trust Co lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,940 shares of the medical research company’s stock after selling 643 shares during the period. Argent Trust Co’s holdings in Thermo Fisher Scientific were worth $11,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TMO. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter worth $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $29,000. Pillar Financial Advisors LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’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 value of $5,166,700.00. Following the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 3.8 %

NYSE:TMO traded down $17.27 during mid-day trading on Thursday, hitting $436.28. 257,449 shares of the company’s stock traded hands, compared to its average volume of 1,675,922. The company has a market capitalization of $164.59 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a fifty day moving average of $516.75 and a 200 day moving average of $541.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a twelve month low of $409.85 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.39%. Thermo Fisher Scientific’s payout ratio is presently 10.41%.

Analysts Set New Price Targets

Several brokerages have weighed in on TMO. Scotiabank boosted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Bank of America reduced their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, UBS Group raised their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $653.23.

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.