Nixon Peabody Trust Co. Has $17.26 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Nixon Peabody Trust Co. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,179 shares of the medical research company’s stock after selling 452 shares during the period. Thermo Fisher Scientific comprises approximately 1.4% of Nixon Peabody Trust Co.’s holdings, making the stock its 20th largest holding. Nixon Peabody Trust Co.’s holdings in Thermo Fisher Scientific were worth $17,261,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC grew its position in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC grew its position in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. grew its position in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Thermo Fisher Scientific by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,665,902 shares of the medical research company’s stock worth $1,386,883,000 after acquiring an additional 29,344 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research analyst reports. UBS Group increased their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America decreased their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Scotiabank increased their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $656.86.

Thermo Fisher Scientific Trading Up 1.1 %

Shares of NYSE:TMO opened at $528.99 on Friday. 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 cap of $199.57 billion, a PE ratio of 32.00, a P/E/G ratio of 2.99 and a beta of 0.77. The business has a 50 day moving average of $549.37 and a 200-day moving average of $565.44. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Thermo Fisher Scientific declared that its board has initiated a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,125 shares of company stock worth $11,231,699. 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.