First Business Financial Services Inc. Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Business Financial Services Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,659 shares of the medical research company’s stock after purchasing an additional 99 shares during the period. First Business Financial Services Inc.’s holdings in Thermo Fisher Scientific were worth $1,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Stonegate Investment Group LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after purchasing an additional 18 shares in the last quarter. Semus Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after buying an additional 18 shares during the last quarter. Bangor Savings Bank raised its position in shares of Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC raised its position in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock valued at $3,882,000 after buying an additional 19 shares during the last quarter. Finally, Connable Office Inc. raised its position in shares of Thermo Fisher Scientific by 0.3% in the third quarter. Connable Office Inc. now owns 5,917 shares of the medical research company’s stock valued at $3,660,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Bank of America cut their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Citigroup cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Raymond James reaffirmed an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Scotiabank upped their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $653.23.

Insider Activity

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly 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 legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Tuesday, February 4th. The shares were 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 in the company, 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. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $524.63 on Thursday. The company has a market capitalization of $197.92 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. The firm has a fifty day simple moving average of $548.99 and a 200-day simple moving average of $563.46. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.