Keybank National Association OH Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Keybank National Association OH trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,671 shares of the medical research company's stock after selling 3,778 shares during the quarter. Thermo Fisher Scientific accounts for about 0.7% of Keybank National Association OH's portfolio, making the stock its 26th largest position. Keybank National Association OH owned 0.09% of Thermo Fisher Scientific worth $170,464,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Finally, Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. UBS Group upped their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 31st. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup lowered their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average target price of $653.23.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $7.07 on Tuesday, reaching $516.57. 2,720,095 shares of the company's stock were exchanged, compared to its average volume of 2,056,704. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The firm has a market cap of $194.88 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The stock has a fifty day simple moving average of $549.08 and a 200-day simple moving average of $563.73.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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

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.