Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lowered by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,831 shares of the medical research company’s stock after selling 749 shares during the quarter. 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 hedge funds and other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $43,000. Miracle Mile Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 5.9% during the 2nd quarter. Miracle Mile Advisors LLC now owns 5,760 shares of the medical research company’s stock valued at $3,185,000 after buying an additional 320 shares during the period. Pure Financial Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 27.3% in the second quarter. Pure Financial Advisors LLC now owns 522 shares of the medical research company’s stock worth $288,000 after acquiring an additional 112 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Thermo Fisher Scientific by 30.3% during the second quarter. Blue Trust Inc. now owns 829 shares of the medical research company’s stock worth $482,000 after acquiring an additional 193 shares in the last quarter. Finally, Rovin Capital UT ADV grew its stake in Thermo Fisher Scientific by 12.5% in the second quarter. Rovin Capital UT ADV now owns 629 shares of the medical research company’s stock valued at $348,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.8 %

Thermo Fisher Scientific stock opened at $524.86 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a market cap of $200.76 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 3.59 and a beta of 0.77. The business has a 50 day moving average price of $553.35 and a two-hundred day moving average price of $574.46. 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 posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping 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 business posted $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized 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 buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction 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 $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TMO shares. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Bernstein Bank raised their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $649.33.

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.