Montecito Bank & Trust Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Montecito Bank & Trust decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,497 shares of the medical research company’s stock after selling 115 shares during the quarter. Montecito Bank & Trust’s holdings in Thermo Fisher Scientific were worth $1,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TMO. Apeiron RIA LLC grew its position in Thermo Fisher Scientific by 22.3% in the 4th quarter. Apeiron RIA LLC now owns 939 shares of the medical research company’s stock worth $489,000 after purchasing an additional 171 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. D.B. Root & Company LLC increased its holdings in Thermo Fisher Scientific by 39.2% during the fourth quarter. D.B. Root & Company LLC now owns 920 shares of the medical research company’s stock valued at $479,000 after buying an additional 259 shares during the last quarter. Echo45 Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 6.1% in the 4th quarter. Echo45 Advisors LLC now owns 573 shares of the medical research company’s stock worth $305,000 after purchasing an additional 33 shares in the last quarter. Finally, True North Advisors LLC grew its holdings in Thermo Fisher Scientific by 9.7% during the fourth quarter. True North Advisors LLC now owns 624 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 55 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Up 0.0 %

Thermo Fisher Scientific stock opened at $574.83 on Friday. The company has a market cap of $219.87 billion, a PE ratio of 36.04, a PEG ratio of 3.82 and a beta of 0.76. The business’s 50-day simple moving average is $531.52 and its two-hundred day simple moving average is $569.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. 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 (NYSE:TMO) last announced 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 net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the firm posted $5.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on TMO. Stifel Nicolaus reduced their target price 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. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Morgan Stanley lowered 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. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $648.95.

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 on Friday, November 1st. The shares were sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,611,804.88. This represents a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 44,850 shares of company stock valued at $24,666,097. 0.34% of the stock is owned by insiders.

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.