Independence Bank of Kentucky Grows Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Independence Bank of Kentucky raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 139.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,603 shares of the medical research company’s stock after acquiring an additional 1,514 shares during the period. Independence Bank of Kentucky’s holdings in Thermo Fisher Scientific were worth $1,382,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Bornite Capital Management LP grew its position in shares of Thermo Fisher Scientific by 50.0% during the 1st quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock valued at $17,719,000 after acquiring an additional 10,000 shares during the period. Fairfield Bush & CO. grew its position in shares of Thermo Fisher Scientific by 1.2% during the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after acquiring an additional 36 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Thermo Fisher Scientific by 563.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after acquiring an additional 16,853 shares during the period. Covestor Ltd grew its position in shares of Thermo Fisher Scientific by 60.5% during the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after acquiring an additional 121 shares during the period. Finally, Merit Financial Group LLC grew its position in shares of Thermo Fisher Scientific by 3.6% during the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the business’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 of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 over the last quarter. 0.32% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.8 %

TMO stock opened at $576.39 on Thursday. The firm has a market cap of $219.78 billion, a PE ratio of 37.31, a PEG ratio of 2.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The firm’s 50 day moving average price is $568.11 and its 200-day moving average price is $522.46. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating the consensus estimate of $5.64 by $0.03. The firm had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.40 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $0.39 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is presently 10.10%.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Robert W. Baird restated an “outperform” rating and set a $670.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, December 14th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Citigroup began coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective on the stock. Raymond James lifted their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a report on Friday, December 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $599.00.

Read Our Latest Stock Report on TMO

About Thermo Fisher Scientific

(Free Report)

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.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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