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

Keybank National Association OH trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 0.7% of Keybank National Association OH’s holdings, making the stock its 26th largest position. Keybank National Association OH owned about 0.09% of Thermo Fisher Scientific worth $170,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Exencial Wealth Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 2,088.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 18,797 shares of the medical research company’s stock worth $9,779,000 after purchasing an additional 17,938 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 15.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,810,128 shares of the medical research company’s stock worth $1,461,913,000 after buying an additional 366,191 shares during the period. Unified Investment Management bought a new position in Thermo Fisher Scientific in the 4th quarter worth $400,000. Fidelis Capital Partners LLC boosted its holdings in Thermo Fisher Scientific by 14.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,643 shares of the medical research company’s stock worth $1,895,000 after buying an additional 472 shares during the period. Finally, LGT Fund Management Co Ltd. boosted its holdings in Thermo Fisher Scientific by 7.5% in the 4th quarter. LGT Fund Management Co Ltd. now owns 10,034 shares of the medical research company’s stock worth $5,220,000 after buying an additional 702 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have commented on TMO shares. Raymond James reissued an “outperform” rating and set a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Sanford C. Bernstein raised 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 research report on Friday, January 10th. Finally, Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $656.86.

Thermo Fisher Scientific Trading Down 1.1 %

NYSE TMO opened at $523.00 on Tuesday. The company has a fifty day moving average of $549.32 and a 200 day moving average of $564.35. The company has a market capitalization of $197.31 billion, a PE ratio of 31.64, a P/E/G ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is 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.