Community Trust & Investment Co. Decreases Stake in Thermo Fisher Scientific Inc. $TMO

Community Trust & Investment Co. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,743 shares of the medical research company’s stock after selling 3,540 shares during the period. Thermo Fisher Scientific accounts for 1.3% of Community Trust & Investment Co.’s investment portfolio, making the stock its 19th largest holding. Community Trust & Investment Co.’s holdings in Thermo Fisher Scientific were worth $24,767,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Carderock Capital Management Inc. lifted its holdings in Thermo Fisher Scientific by 36.9% during the 4th quarter. Carderock Capital Management Inc. now owns 21,017 shares of the medical research company’s stock worth $12,178,000 after buying an additional 5,662 shares during the last quarter. Diversified Trust Co. raised its position in shares of Thermo Fisher Scientific by 4.1% during the 4th quarter. Diversified Trust Co. now owns 10,095 shares of the medical research company’s stock worth $5,850,000 after acquiring an additional 399 shares in the last quarter. TABR Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $436,000. Tompkins Financial Corp boosted its holdings in Thermo Fisher Scientific by 2.1% in the fourth quarter. Tompkins Financial Corp now owns 1,742 shares of the medical research company’s stock valued at $1,009,000 after purchasing an additional 35 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its stake in Thermo Fisher Scientific by 8.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,367 shares of the medical research company’s stock valued at $792,000 after purchasing an additional 105 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TMO. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Evercore reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, TD Cowen reduced their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $478.29 on Tuesday. The stock has a market capitalization of $177.67 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.74 and a beta of 0.96. The firm’s fifty day simple moving average is $540.67 and its 200-day simple moving average is $548.27. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99.

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

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is presently 10.60%.

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.