Bank of Marin Acquires 32 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of Marin lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,961 shares of the medical research company’s stock after buying an additional 32 shares during the period. Thermo Fisher Scientific makes up about 1.0% of Bank of Marin’s holdings, making the stock its 28th largest holding. Bank of Marin’s holdings in Thermo Fisher Scientific were worth $1,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TMO. Signature Resources Capital Management LLC lifted its stake in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC bought a new position in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC raised its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TMO shares. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Bank of America upped their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded down $15.01 on Friday, hitting $518.01. 876,608 shares of the company’s stock were exchanged, compared to its average volume of 1,458,658. Thermo Fisher Scientific Inc. has a 12 month low of $464.17 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 50 day moving average of $588.39 and a 200 day moving average of $582.69. The stock has a market cap of $198.14 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the business posted $5.69 EPS. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 over the last three months. 0.34% of the stock is owned by company insiders.

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.