Grove Bank & Trust Grows Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Grove Bank & Trust lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,158 shares of the medical research company’s stock after buying an additional 66 shares during the quarter. Grove Bank & Trust’s holdings in Thermo Fisher Scientific were worth $3,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific in the 3rd quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth $50,000. Decker Retirement Planning Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $43,000. Finally, HWG Holdings LP purchased a new position in Thermo Fisher Scientific in the second quarter valued at $50,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TMO. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley decreased their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Bernstein Bank increased 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 research report on Tuesday, October 22nd. Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Finally, Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Trading Down 0.4 %

NYSE TMO opened at $559.72 on Friday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The firm has a market cap of $214.09 billion, a PE ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. The firm’s fifty day moving average is $529.96 and its two-hundred day moving average is $568.09. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business earned $5.69 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

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

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.