Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Cut by Associated Banc Corp

Associated Banc Corp cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,874 shares of the medical research company’s stock after selling 23,111 shares during the period. Associated Banc Corp’s holdings in Thermo Fisher Scientific were worth $23,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. First National Trust Co lifted its stake in Thermo Fisher Scientific by 1.6% during the fourth quarter. First National Trust Co now owns 13,498 shares of the medical research company’s stock worth $7,022,000 after purchasing an additional 210 shares during the last quarter. Sienna Gestion bought a new position in Thermo Fisher Scientific during the fourth quarter worth $5,364,000. Hughes Financial Services LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth $280,000. Carret Asset Management LLC increased its position in Thermo Fisher Scientific by 1.2% in the fourth quarter. Carret Asset Management LLC now owns 8,058 shares of the medical research company’s stock worth $4,192,000 after buying an additional 93 shares during the period. Finally, Midwest Professional Planners LTD. increased its position in Thermo Fisher Scientific by 6.5% in the fourth quarter. Midwest Professional Planners LTD. now owns 823 shares of the medical research company’s stock worth $428,000 after buying an additional 50 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stephen Williamson sold 9,825 shares of the firm’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 $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This trade 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 this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Up 2.9 %

NYSE:TMO opened at $523.44 on Friday. 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 1-year low of $493.30 and a 1-year high of $627.88. The firm has a market capitalization of $197.47 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The stock has a fifty day simple moving average of $548.54 and a 200 day simple moving average of $559.53.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Sell-side 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 has authorized a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The firm 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 dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Analysts Set New Price Targets

TMO has been the topic of several analyst reports. Sanford C. Bernstein raised 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. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Scotiabank lifted their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $653.23.

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.