Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Citizens Business Bank

Citizens Business Bank trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,316 shares of the medical research company’s stock after selling 169 shares during the quarter. Citizens Business Bank’s holdings in Thermo Fisher Scientific were worth $3,907,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. M&T Bank Corp boosted its position in Thermo Fisher Scientific by 4.2% during the 3rd quarter. M&T Bank Corp now owns 113,347 shares of the medical research company’s stock valued at $70,113,000 after purchasing an additional 4,584 shares during the period. TD Private Client Wealth LLC grew its position in Thermo Fisher Scientific by 24.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 8,149 shares of the medical research company’s stock worth $5,041,000 after purchasing an additional 1,591 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Thermo Fisher Scientific by 6.5% during the third quarter. Toronto Dominion Bank now owns 216,871 shares of the medical research company’s stock worth $134,150,000 after buying an additional 13,319 shares during the period. Empire Financial Management Company LLC boosted its position in Thermo Fisher Scientific by 2.0% during the 3rd quarter. Empire Financial Management Company LLC now owns 1,964 shares of the medical research company’s stock worth $1,215,000 after acquiring an additional 38 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after purchasing an additional 995 shares during the period. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TMO shares. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price for the company. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Bank of America raised their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Sanford C. Bernstein cut their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 in the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 0.3 %

Shares of Thermo Fisher Scientific stock opened at $535.85 on Wednesday. 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 $491.33 and a 1 year high of $627.88. The stock has a 50-day moving average price of $556.46 and a 200 day moving average price of $575.08. The company has a market cap of $204.96 billion, a P/E ratio of 33.60, a P/E/G ratio of 3.56 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for 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 revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.69 earnings per share. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.