Fulton Bank N.A. Purchases 288 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Fulton Bank N.A. increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,161 shares of the medical research company’s stock after buying an additional 288 shares during the period. Fulton Bank N.A.’s holdings in Thermo Fisher Scientific were worth $4,246,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TMO. One Wealth Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $835,000. Diversified Trust Co lifted its holdings in shares of Thermo Fisher Scientific by 25.5% during the 4th quarter. Diversified Trust Co now owns 12,784 shares of the medical research company’s stock worth $6,651,000 after acquiring an additional 2,594 shares during the last quarter. Bangor Savings Bank increased its stake in Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 19 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in Thermo Fisher Scientific by 6.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 9,461 shares of the medical research company’s stock valued at $4,922,000 after purchasing an additional 555 shares in the last quarter. Finally, Doliver Advisors LP boosted its holdings in shares of Thermo Fisher Scientific by 1.6% in the 4th quarter. Doliver Advisors LP now owns 2,803 shares of the medical research company’s stock worth $1,458,000 after purchasing an additional 44 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the subject of several research reports. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Sanford C. Bernstein reduced their price objective on 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. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Scotiabank began coverage on Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target on the stock. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $650.05.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded up $0.53 during mid-day trading on Wednesday, reaching $546.18. The company’s stock had a trading volume of 603,787 shares, compared to its average volume of 1,542,528. The firm’s fifty day moving average price is $530.35 and its two-hundred day moving average price is $568.39. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market cap of $208.91 billion, a P/E ratio of 34.24, a PEG ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.69 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has approved a share repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 $1,120,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by company 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.