988 Shares in Thermo Fisher Scientific Inc. (NYSE:TMO) Purchased by Crews Bank & Trust

Crews Bank & Trust purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 988 shares of the medical research company’s stock, valued at approximately $514,000.

A number of other hedge funds also recently bought and sold shares of the company. Westhampton Capital LLC boosted its stake in Thermo Fisher Scientific by 3.4% in the 4th quarter. Westhampton Capital LLC now owns 2,292 shares of the medical research company’s stock worth $1,192,000 after purchasing an additional 75 shares in the last quarter. Busey Bank raised its position in Thermo Fisher Scientific by 3.6% in the 4th quarter. Busey Bank now owns 30,231 shares of the medical research company’s stock worth $15,727,000 after buying an additional 1,044 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $70,000. Strategic Planning Group LLC raised its position in Thermo Fisher Scientific by 4.5% in the 4th quarter. Strategic Planning Group LLC now owns 6,615 shares of the medical research company’s stock worth $3,441,000 after buying an additional 286 shares during the last quarter. Finally, Highland Capital Management LLC raised its position in Thermo Fisher Scientific by 10.0% in the 4th quarter. Highland Capital Management LLC now owns 33,979 shares of the medical research company’s stock worth $17,677,000 after buying an additional 3,102 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 6.8 %

TMO stock opened at $607.06 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market capitalization of $232.20 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 3.89 and a beta of 0.76. The business has a 50 day simple moving average of $537.83 and a two-hundred day simple moving average of $570.33.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the sale, the chief executive officer now owns 33,608 shares in the company, valued at approximately $18,757,296.96. This represents a 22.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 29,000 shares of company stock worth $15,859,540. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. Royal Bank of Canada decreased their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley decreased their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target for the company in a research report on Friday, January 10th. Finally, Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

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.