Central Pacific Bank Trust Division Has $1.85 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Central Pacific Bank Trust Division cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,554 shares of the medical research company’s stock after selling 1,738 shares during the period. Central Pacific Bank Trust Division’s holdings in Thermo Fisher Scientific were worth $1,849,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Founders Financial Securities LLC raised its stake in Thermo Fisher Scientific by 0.9% during the second quarter. Founders Financial Securities LLC now owns 2,058 shares of the medical research company’s stock worth $1,138,000 after acquiring an additional 19 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Thermo Fisher Scientific by 4.1% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,142 shares of the medical research company’s stock worth $632,000 after acquiring an additional 45 shares during the last quarter. Stablepoint Partners LLC raised its position in Thermo Fisher Scientific by 4.8% in the second quarter. Stablepoint Partners LLC now owns 3,901 shares of the medical research company’s stock valued at $2,357,000 after purchasing an additional 179 shares during the last quarter. Commons Capital LLC grew its holdings in shares of Thermo Fisher Scientific by 9.0% during the second quarter. Commons Capital LLC now owns 2,405 shares of the medical research company’s stock worth $1,330,000 after purchasing an additional 199 shares during the last quarter. Finally, FineMark National Bank & Trust raised its holdings in Thermo Fisher Scientific by 2.1% in the 2nd quarter. FineMark National Bank & Trust now owns 22,726 shares of the medical research company’s stock valued at $12,567,000 after buying an additional 468 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The shares were 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 owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last 90 days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded up $11.23 during trading on Friday, reaching $533.80. 656,918 shares of the stock traded hands, compared to its average volume of 1,223,844. The stock has a market capitalization of $204.18 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a 50-day moving average of $531.16 and a 200-day moving average of $568.93. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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. 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 last year, the company earned $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast 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 initiated a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of 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. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Bernstein Bank boosted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Thermo Fisher Scientific Company 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.