Capital City Trust Co. FL Acquires 32 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Capital City Trust Co. FL lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,010 shares of the medical research company’s stock after buying an additional 32 shares during the period. Thermo Fisher Scientific makes up approximately 1.7% of Capital City Trust Co. FL’s holdings, making the stock its 16th largest holding. Capital City Trust Co. FL’s holdings in Thermo Fisher Scientific were worth $6,810,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TMO. Acadian Asset Management LLC lifted its holdings in Thermo Fisher Scientific by 3.8% in the 1st quarter. Acadian Asset Management LLC now owns 24,580 shares of the medical research company’s stock worth $14,282,000 after buying an additional 909 shares during the period. Edgestream Partners L.P. bought a new stake in Thermo Fisher Scientific in the first quarter valued at $1,661,000. Hillsdale Investment Management Inc. increased its position in Thermo Fisher Scientific by 23.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 60 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of Thermo Fisher Scientific by 1.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 3,331 shares of the medical research company’s stock worth $1,936,000 after purchasing an additional 40 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Thermo Fisher Scientific by 26.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,592 shares of the medical research company’s stock valued at $13,131,000 after purchasing an additional 4,730 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Down 3.7 %

Shares of Thermo Fisher Scientific stock opened at $513.08 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a twelve month low of $464.17 and a twelve month high of $627.88. The company has a market cap of $196.25 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company’s 50 day moving average is $586.43 and its 200 day moving average is $582.39.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the business posted $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 21.67 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

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 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 transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, 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 ninety days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TMO has been the subject of several research analyst reports. Bank of America raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. TD Cowen lifted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bernstein Bank raised their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Raymond James upped their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.