Stock Yards Bank & Trust Co. Has $2.99 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,831 shares of the medical research company’s stock after selling 749 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Thermo Fisher Scientific were worth $2,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares during the period. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at about $254,412,000. Finally, Point72 Asset Management L.P. raised its holdings in Thermo Fisher Scientific by 743.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after acquiring an additional 296,646 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $524.86 on Friday. The business has a 50-day simple moving average of $553.35 and a 200 day simple moving average of $574.46. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The stock has a market cap of $200.76 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.59 and a beta of 0.77. 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 earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $5.69 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Insider Activity

In related news, 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 transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent research reports. Bernstein Bank raised their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reduced their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein decreased their price objective 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. Finally, Robert W. Baird decreased 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. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Company 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.