Citizens Business Bank Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Citizens Business Bank reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,793 shares of the medical research company’s stock after selling 179 shares during the period. Citizens Business Bank’s holdings in Thermo Fisher Scientific were worth $3,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Thermo Fisher Scientific by 61,995.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after buying an additional 1,008,045 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Thermo Fisher Scientific by 17,046.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after purchasing an additional 967,913 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Thermo Fisher Scientific by 2,567.5% during the 4th quarter. Van ECK Associates Corp now owns 352,217 shares of the medical research company’s stock worth $186,954,000 after purchasing an additional 339,013 shares during the last quarter. Rathbones Group PLC grew its stake in shares of Thermo Fisher Scientific by 111.0% during the third quarter. Rathbones Group PLC now owns 568,970 shares of the medical research company’s stock worth $287,996,000 after purchasing an additional 299,338 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Thermo Fisher Scientific by 20.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,706,179 shares of the medical research company’s stock valued at $863,617,000 after buying an additional 287,446 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $8.15 on Tuesday, reaching $568.74. 1,514,866 shares of the stock were exchanged, compared to its average volume of 1,554,109. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $603.82. The business has a fifty day moving average price of $574.18 and a two-hundred day moving average price of $531.06. The firm has a market capitalization of $217.09 billion, a PE ratio of 36.69, a PEG ratio of 2.41 and a beta of 0.80. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.56 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target for the company. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group raised their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $607.35.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,277 shares of company stock valued at $29,649,264. Corporate insiders own 0.34% of the company’s stock.

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.