Eastern Bank Has $16.49 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Eastern Bank lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,703 shares of the medical research company’s stock after selling 525 shares during the quarter. Eastern Bank’s holdings in Thermo Fisher Scientific were worth $16,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TMO. Thoroughbred Financial Services LLC boosted its holdings in Thermo Fisher Scientific by 37.0% in the second quarter. Thoroughbred Financial Services LLC now owns 2,716 shares of the medical research company’s stock valued at $1,501,000 after acquiring an additional 734 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 7,831 shares of the medical research company’s stock worth $4,330,000 after buying an additional 86 shares in the last quarter. Lyell Wealth Management LP boosted its holdings in shares of Thermo Fisher Scientific by 3.0% during the 2nd quarter. Lyell Wealth Management LP now owns 29,113 shares of the medical research company’s stock worth $16,100,000 after buying an additional 839 shares in the last quarter. Seven Mile Advisory boosted its holdings in shares of Thermo Fisher Scientific by 7.0% during the 2nd quarter. Seven Mile Advisory now owns 533 shares of the medical research company’s stock worth $294,000 after buying an additional 35 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $1,897,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research analyst reports. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley cut their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a report on Monday. Bernstein Bank increased their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded up $14.28 during trading hours on Monday, hitting $556.59. 1,648,368 shares of the company’s stock traded hands, compared to its average volume of 1,915,151. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The stock has a market capitalization of $212.90 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.54 and a beta of 0.76. The company has a fifty day simple moving average of $529.91 and a 200-day simple moving average of $568.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm posted $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value 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. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is owned by company insiders.

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.