Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Increased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,825 shares of the medical research company’s stock after buying an additional 663 shares during the quarter. Independence Bank of Kentucky’s holdings in Thermo Fisher Scientific were worth $1,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in Thermo Fisher Scientific by 1.7% in 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 purchasing an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Thermo Fisher Scientific by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after buying an additional 995 shares in the last quarter. Greenwood Gearhart Inc. increased its holdings in Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after buying an additional 1,837 shares during the last quarter. Nordea Investment Management AB lifted its stake in Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after acquiring an additional 10,606 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC increased its stake in shares of Thermo Fisher Scientific by 6.2% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after purchasing an additional 618 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 29,000 shares of company stock worth $15,859,540 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Scotiabank started coverage on shares of Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price objective for the company. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Finally, Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $655.64.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $598.40 on Friday. The firm has a 50 day moving average of $541.37 and a 200-day moving average of $570.96. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock has a market capitalization of $228.89 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

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.