Mechanics Bank Trust Department Has $1.38 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mechanics Bank Trust Department lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,660 shares of the medical research company's stock after acquiring an additional 477 shares during the quarter. Mechanics Bank Trust Department's holdings in Thermo Fisher Scientific were worth $1,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $27,000. Decker Retirement Planning Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $43,000. HWG Holdings LP acquired a new stake in shares of Thermo Fisher Scientific during the second quarter valued at $50,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at $58,960,669.92. This trade represents a 8.25 % 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. Also, SVP Michael A. Boxer sold 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 12,736 shares of the company's stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,150 shares of company stock worth $25,954,465. Company insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Down 0.4 %

Thermo Fisher Scientific stock traded down $1.99 during mid-day trading on Monday, hitting $559.72. 2,134,669 shares of the company's stock were exchanged, compared to its average volume of 1,426,114. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The stock has a 50 day moving average of $529.96 and a two-hundred day moving average of $568.56. The stock has a market cap of $214.09 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company earned $5.69 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.78%.

Analyst Ratings Changes

Several analysts have commented on TMO shares. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a "buy" rating and a $680.00 target price for the company. Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $648.95.

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.