Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,660 shares of the medical research company’s stock after acquiring an additional 477 shares during the quarter. Mechanics Bank Trust Department’s holdings in Thermo Fisher Scientific were worth $1,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific during the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in Thermo Fisher Scientific during the third quarter worth approximately $50,000. Decker Retirement Planning Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at $43,000. Finally, HWG Holdings LP purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $50,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $559.72 on Monday. The company’s 50 day simple moving average is $529.96 and its 200-day simple moving average is $568.33. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The firm has a market cap of $214.09 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the company earned $5.69 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

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.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada decreased their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Bernstein Bank lifted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Scotiabank started coverage on shares of Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.