AMG National Trust Bank Has $1.52 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

AMG National Trust Bank reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,452 shares of the medical research company’s stock after selling 446 shares during the quarter. AMG National Trust Bank’s holdings in Thermo Fisher Scientific were worth $1,517,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TMO. Capital World Investors raised its position in shares of Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Thermo Fisher Scientific by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after purchasing an additional 156,675 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Thermo Fisher Scientific by 1.5% during the 1st quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after buying an additional 123,523 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Thermo Fisher Scientific by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,740,482 shares of the medical research company’s stock valued at $962,482,000 after acquiring an additional 20,075 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 2.3 %

TMO stock opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a 1-year low of $465.90 and a 1-year high of $627.88. The stock has a market cap of $191.82 billion, a P/E ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79. The stock’s fifty day simple moving average is $584.05 and its two-hundred day simple moving average is $581.90. 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 (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $5.69 earnings per share. Analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS 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 buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the transaction, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock valued at $20,651,865 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TMO shares. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Evercore ISI cut their price target 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. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $649.33.

About Thermo Fisher Scientific

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.