Canandaigua National Trust Co of Florida Has $423,000 Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Canandaigua National Trust Co of Florida lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the third quarter worth $27,000. HWG Holdings LP bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $50,000. RPg Family Wealth Advisory LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $50,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $65,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 0.8 %

Shares of NYSE:TMO traded up $4.45 during midday trading on Monday, reaching $536.47. 1,951,916 shares of the company were exchanged, compared to its average volume of 1,651,959. The stock has a fifty day simple moving average of $530.72 and a two-hundred day simple moving average of $568.67. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm has a market cap of $205.20 billion, a PE ratio of 33.63, a P/E/G ratio of 3.54 and a beta of 0.76. 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 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock valued at $25,954,465 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent research reports. Bank of America decreased their price objective 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. Scotiabank assumed coverage on Thermo Fisher Scientific in a report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price objective for the company. Sanford C. Bernstein dropped their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays cut 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 note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $650.05.

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.