1ST Source Bank Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

1ST Source Bank trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,963 shares of the medical research company’s stock after selling 268 shares during the period. 1ST Source Bank’s holdings in Thermo Fisher Scientific were worth $8,304,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stonegate Investment Group LLC raised its holdings in Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18 shares during the period. Semus Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 4.0% during the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the period. Bangor Savings Bank raised its holdings in Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares during the period. Eagle Rock Investment Company LLC raised its holdings in Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after buying an additional 19 shares during the period. Finally, KRS Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.5% during the 4th quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock worth $685,000 after buying an additional 20 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Up 2.9 %

TMO opened at $523.44 on Monday. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $197.47 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.99 and a beta of 0.79. The business has a 50 day moving average of $548.54 and a 200-day moving average of $558.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on TMO shares. Bank of America cut their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a report on Friday, January 31st. Wells Fargo & Company upped their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Citigroup dropped their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $653.23.

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.