First County Bank CT Sells 277 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

First County Bank CT lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,332 shares of the medical research company’s stock after selling 277 shares during the period. First County Bank CT’s holdings in Thermo Fisher Scientific were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after purchasing an additional 995 shares in the last quarter. Greenwood Gearhart Inc. boosted its holdings in Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after acquiring an additional 1,837 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in Thermo Fisher Scientific by 29.2% in the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after acquiring an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMO shares. Bernstein Bank upped their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Thermo Fisher Scientific Trading Up 1.5 %

Shares of NYSE:TMO traded up $8.15 during trading on Tuesday, reaching $545.34. 1,141,568 shares of the company were exchanged, compared to its average volume of 1,594,854. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The firm has a market capitalization of $208.59 billion, a PE ratio of 34.19, a P/E/G ratio of 3.54 and a beta of 0.76. The business’s fifty day simple moving average is $530.39 and its 200-day simple moving average is $568.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The business 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 company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.69 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared 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 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 payout ratio is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,150 shares of company stock valued at $25,954,465. Insiders own 0.34% of the company’s stock.

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.