Community Trust & Investment Co. Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Community Trust & Investment Co. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,807 shares of the medical research company’s stock after selling 209 shares during the period. Thermo Fisher Scientific comprises approximately 1.4% of Community Trust & Investment Co.’s portfolio, making the stock its 24th largest position. Community Trust & Investment Co.’s holdings in Thermo Fisher Scientific were worth $15,864,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Bornite Capital Management LP raised its stake in Thermo Fisher Scientific by 50.0% during the first quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock worth $17,719,000 after purchasing an additional 10,000 shares during the period. Fairfield Bush & CO. lifted its position in Thermo Fisher Scientific by 1.2% in the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after purchasing an additional 36 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Thermo Fisher Scientific by 563.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock worth $11,721,000 after purchasing an additional 16,853 shares during the last quarter. Covestor Ltd increased its position in shares of Thermo Fisher Scientific by 60.5% in the first quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock worth $190,000 after acquiring an additional 121 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 3.6% during the first quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock worth $395,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 85.92% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded down $9.75 during trading hours on Friday, hitting $547.34. 1,947,936 shares of the company traded hands, compared to its average volume of 1,498,879. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The firm has a market cap of $210.96 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.88 and a beta of 0.79. The firm’s 50-day simple moving average is $565.91 and its two-hundred day simple moving average is $545.06. Thermo Fisher Scientific Inc. has a 1-year low of $475.77 and a 1-year high of $618.35.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last announced its quarterly earnings results on Wednesday, February 1st. The medical research company reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.21. Thermo Fisher Scientific had a net margin of 15.47% and a return on equity of 21.42%. The business had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $10.41 billion. During the same period last year, the company posted $6.54 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.35 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Tuesday, March 14th. Thermo Fisher Scientific’s payout ratio is 7.94%.

Insider Buying and Selling

In related news, Director Jim P. Manzi sold 1,000 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $584.56, for a total transaction of $584,560.00. Following the completion of the sale, the director now owns 14,807 shares in the company, valued at $8,655,579.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jim P. Manzi sold 1,000 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $584.56, for a total transaction of $584,560.00. Following the sale, the director now owns 14,807 shares of the company’s stock, valued at approximately $8,655,579.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 7,500 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $544.49, for a total value of $4,083,675.00. Following the transaction, the chief executive officer now owns 66,655 shares in the company, valued at $36,292,980.95. The disclosure for this sale can be found here. Insiders have sold a total of 30,100 shares of company stock valued at $16,966,971 over the last ninety days. 0.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $613.00 to $670.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Barclays raised their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup boosted their price objective on Thermo Fisher Scientific from $650.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $525.00 to $505.00 and set an “underweight” rating on the stock in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $647.00.

Thermo Fisher Scientific Profile

(Get Rating)

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

Featured Stories

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.