Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Field & Main Bank

Field & Main Bank trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Driehaus Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 75.0% in the second quarter. Driehaus Capital Management LLC now owns 1,524 shares of the medical research company’s stock valued at $843,000 after buying an additional 653 shares during the period. Quarry LP grew its position in Thermo Fisher Scientific by 86.2% in the second quarter. Quarry LP now owns 121 shares of the medical research company’s stock worth $67,000 after acquiring an additional 56 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in Thermo Fisher Scientific by 5.8% during the second quarter. EP Wealth Advisors LLC now owns 14,991 shares of the medical research company’s stock valued at $8,290,000 after purchasing an additional 816 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Thermo Fisher Scientific by 2.3% during the second quarter. Pathway Financial Advisers LLC now owns 1,450 shares of the medical research company’s stock valued at $783,000 after buying an additional 33 shares during the last quarter. Finally, Advisory Alpha LLC lifted its position in shares of Thermo Fisher Scientific by 34.7% during the second quarter. Advisory Alpha LLC now owns 1,049 shares of the medical research company’s stock worth $580,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,850 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $557.89, for a total value of $3,263,656.50. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,611,804.88. This represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 34,850 shares of company stock worth $19,123,197 over the last 90 days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $574.74 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market cap of $219.84 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. The firm’s fifty day moving average price is $536.74 and its 200-day moving average price is $570.35. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific announced that its board has approved a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued 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 is presently 9.78%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Bank of America reduced their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada reduced their price target 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. Morgan Stanley lowered their price objective on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $648.95.

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.