Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by First County Bank CT

First County Bank CT grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,609 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. First County Bank CT’s holdings in Thermo Fisher Scientific were worth $995,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth $27,000. Signature Resources Capital Management LLC boosted 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 period. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the subject of several recent research reports. Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird cut their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Up 0.5 %

NYSE:TMO opened at $515.26 on Friday. The stock has a fifty day simple moving average of $577.66 and a 200 day simple moving average of $580.52. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $197.09 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 3.37 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the firm posted $5.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific 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.