Bank of Marin Grows Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of Marin increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,961 shares of the medical research company’s stock after purchasing an additional 32 shares during the period. Thermo Fisher Scientific accounts for 1.0% of Bank of Marin’s investment portfolio, making the stock its 28th biggest position. Bank of Marin’s holdings in Thermo Fisher Scientific were worth $1,213,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Beaumont Financial Advisors LLC raised its holdings in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after buying an additional 17 shares in the last quarter. Cedar Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. raised its position in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the period. IFG Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 3.3% in the third 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 last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased 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 report on Thursday, October 24th. Evercore ISI lowered their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein lowered their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Trading Down 2.8 %

Shares of NYSE TMO traded down $15.01 during midday trading on Friday, hitting $518.01. The stock had a trading volume of 876,608 shares, compared to its average volume of 1,458,658. 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 Inc. has a fifty-two week low of $464.17 and a fifty-two week high of $627.88. The firm has a market cap of $198.14 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. The company’s 50-day simple moving average is $588.39 and its 200 day simple moving average is $582.69.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm earned $5.69 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

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.