Essex Savings Bank Buys 45 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Essex Savings Bank raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,748 shares of the medical research company’s stock after buying an additional 45 shares during the period. Essex Savings Bank’s holdings in Thermo Fisher Scientific were worth $909,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TMO. IFG Advisors LLC raised its position in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its holdings in Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock worth $2,720,000 after purchasing an additional 19 shares in the last quarter. Axiom Advisory LLC lifted its position in shares of Thermo Fisher Scientific by 1.6% during the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock valued at $720,000 after buying an additional 19 shares during the last quarter. Angeles Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the last quarter. Finally, Bangor Savings Bank raised its stake in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $551.64 on Thursday. The firm’s 50-day moving average is $529.85 and its two-hundred day moving average is $568.13. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market capitalization of $211.00 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the business posted $5.69 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program 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 buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of a number of recent analyst reports. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stifel Nicolaus decreased 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. Bernstein Bank increased their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $648.95.

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.