Keybank National Association OH Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Keybank National Association OH decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 327,671 shares of the medical research company’s stock after selling 3,778 shares during the period. Thermo Fisher Scientific accounts for 0.7% of Keybank National Association OH’s holdings, making the stock its 26th largest position. Keybank National Association OH’s holdings in Thermo Fisher Scientific were worth $170,464,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. Finally, Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TMO shares. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Finally, Scotiabank raised their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $656.86.

Thermo Fisher Scientific Stock Down 1.1 %

Shares of NYSE:TMO opened at $523.00 on Tuesday. The company has a market cap of $197.31 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.99 and a beta of 0.77. The firm’s 50-day simple moving average is $549.32 and its 200-day simple moving average is $564.35. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

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.