Field & Main Bank Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Field & Main Bank lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,723 shares of the medical research company’s stock after selling 245 shares during the period. Field & Main Bank’s holdings in Thermo Fisher Scientific were worth $896,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFG Advisors LLC increased its stake in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after buying an additional 17 shares during the period. Stonegate Investment Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its position in shares of Thermo Fisher Scientific by 0.4% during the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after buying an additional 19 shares during the last quarter. Axiom Advisory LLC grew its position in shares of Thermo Fisher Scientific by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after buying an additional 19 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total value of $5,581,200.00. Following the completion of the sale, the chief executive officer now owns 33,608 shares in the company, valued at $18,757,296.96. This trade represents a 22.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 34,850 shares of company stock worth $19,123,197 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TMO. Scotiabank assumed coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price on the stock. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Stock Down 1.6 %

Shares of NYSE:TMO opened at $574.74 on Wednesday. The firm has a fifty day moving average price of $536.74 and a 200 day moving average price of $570.35. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The stock has a market cap of $219.84 billion, a P/E ratio of 35.95, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

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.