Glenview Trust co Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Glenview Trust co decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,776 shares of the medical research company’s stock after selling 4,091 shares during the period. Glenview Trust co’s holdings in Thermo Fisher Scientific were worth $14,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $28,000. Finally, Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the sale, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,900 shares of company stock valued at $13,106,062 over the last 90 days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $523.44 on Friday. The company has a market cap of $197.47 billion, a PE ratio of 31.67, a P/E/G ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50 day moving average price is $548.54 and its 200-day moving average price is $559.17.

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

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is 10.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on TMO shares. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a report on Friday, January 31st. Bank of America lowered their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

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.