Thermo Fisher Scientific Inc. $TMO Shares Purchased by Citizens Business Bank

Citizens Business Bank raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 79.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,250 shares of the medical research company’s stock after buying an additional 4,996 shares during the period. Citizens Business Bank’s holdings in Thermo Fisher Scientific were worth $5,456,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Management Network Inc. boosted its position in Thermo Fisher Scientific by 3.7% during the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after purchasing an additional 18 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Thermo Fisher Scientific by 8.8% during the third quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after purchasing an additional 19 shares in the last quarter. White Pine Capital LLC boosted its position in shares of Thermo Fisher Scientific by 3.2% in the third quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock worth $296,000 after buying an additional 19 shares during the period. Elevation Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares during the period. Finally, Hopwood Financial Services Inc. lifted its position in Thermo Fisher Scientific by 9.1% during the 3rd quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 98,271 shares of company stock valued at $56,920,935. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group reiterated a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. TD Cowen lowered their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Argus boosted their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $514.20 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The firm’s 50-day simple moving average is $576.02 and its 200-day simple moving average is $547.25. The firm has a market cap of $193.19 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $6.10 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.