Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Montecito Bank & Trust

Montecito Bank & Trust trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,247 shares of the medical research company’s stock after selling 250 shares during the quarter. Montecito Bank & Trust’s holdings in Thermo Fisher Scientific were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LaFleur & Godfrey LLC increased its holdings in shares of Thermo Fisher Scientific by 9.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company’s stock valued at $15,486,000 after purchasing an additional 2,488 shares during the period. Brighton Jones LLC raised its position in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $71,877,000. Revolve Wealth Partners LLC grew its position in Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in Thermo Fisher Scientific by 0.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock worth $79,677,000 after acquiring an additional 461 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 3.2%

Shares of NYSE:TMO opened at $402.12 on Monday. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month high of $627.88. The company’s 50-day moving average price is $416.80 and its two-hundred day moving average price is $491.98. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm has a market cap of $151.80 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $5.11 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

Analysts Set New Price Targets

Several research firms have commented on TMO. Scotiabank decreased their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $605.30.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

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.