First Interstate Bank Has $1.23 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Interstate Bank trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,323 shares of the medical research company’s stock after selling 210 shares during the period. First Interstate Bank’s holdings in Thermo Fisher Scientific were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TMO. Coppell Advisory Solutions LLC purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $33,000. Live Oak Investment Partners acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $36,000. Tyler Stone Wealth Management purchased a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $37,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $38,000. Finally, Raleigh Capital Management Inc. grew its holdings in Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after acquiring an additional 27 shares during the period. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Raymond James upped their target price on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. HSBC began coverage on Thermo Fisher Scientific in a report on Monday, December 18th. They set a “buy” rating and a $610.00 target price on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. TheStreet raised Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Finally, The Goldman Sachs Group raised their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $601.56.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock worth $28,513,384 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $3.22 during midday trading on Tuesday, reaching $554.65. The company’s stock had a trading volume of 1,010,297 shares, compared to its average volume of 1,539,256. The stock has a fifty day moving average of $571.79 and a 200 day moving average of $526.53. The firm has a market capitalization of $211.72 billion, a PE ratio of 35.90, a P/E/G ratio of 2.38 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating the consensus estimate of $5.64 by $0.03. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business had revenue of $10.89 billion during the quarter, compared to analyst estimates of $10.73 billion. During the same quarter last year, the firm posted $5.40 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.10%.

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.