First National Bank of Mount Dora Trust Investment Services Sells 368 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

First National Bank of Mount Dora Trust Investment Services trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,933 shares of the medical research company’s stock after selling 368 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Thermo Fisher Scientific were worth $1,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TMO. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $27,000. Decker Retirement Planning Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $43,000. HWG Holdings LP bought a new position in Thermo Fisher Scientific during the second quarter valued at approximately $50,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at approximately $50,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $559.72 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The business has a 50-day simple moving average of $529.80 and a two-hundred day simple moving average of $567.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market cap of $214.09 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76.

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

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. 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. Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Bernstein Bank raised their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 in the last quarter. 0.34% of the stock is currently owned by insiders.

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.