First County Bank CT Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

First County Bank CT cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,509 shares of the medical research company’s stock after selling 157 shares during the period. First County Bank CT’s holdings in Thermo Fisher Scientific were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Signature Resources Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. True Wealth Design LLC boosted its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC boosted its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. purchased a new position in Thermo Fisher Scientific in the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $619.45 on Friday. The firm’s fifty day simple moving average is $604.48 and its two-hundred day simple moving average is $581.96. The firm has a market capitalization of $236.63 billion, a P/E ratio of 39.73, a P/E/G ratio of 3.88 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter last year, the company posted $5.15 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Evercore ISI reduced their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America lifted their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $647.78.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the transaction, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

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.