Community Bank N.A. Grows Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Community Bank N.A. increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,031 shares of the medical research company’s stock after buying an additional 62 shares during the quarter. Community Bank N.A.’s holdings in Thermo Fisher Scientific were worth $2,493,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Signature Resources Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific during the third quarter valued at approximately $27,000. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC boosted its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $33,000. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 in the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TMO shares. Stephens initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Sanford C. Bernstein lowered their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $529.63 on Monday. The business’s 50 day moving average price is $566.33 and its 200-day moving average price is $577.69. Thermo Fisher Scientific Inc. has a fifty-two week low of $487.06 and a fifty-two week high of $627.88. The firm has a market cap of $202.58 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.50 and a beta of 0.79. 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 (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the company posted $5.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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

Thermo Fisher Scientific Dividend Announcement

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

About Thermo Fisher Scientific

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.