Independence Bank of Kentucky Sells 778 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Independence Bank of Kentucky decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 20.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,047 shares of the medical research company's stock after selling 778 shares during the quarter. Independence Bank of Kentucky's holdings in Thermo Fisher Scientific were worth $1,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Congress Asset Management Co. lifted its stake in shares of Thermo Fisher Scientific by 23.5% during the 1st quarter. Congress Asset Management Co. now owns 167,749 shares of the medical research company's stock worth $83,472,000 after buying an additional 31,894 shares during the last quarter. Impact Capital Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 7.3% during the first quarter. Impact Capital Partners LLC now owns 1,024 shares of the medical research company's stock worth $510,000 after acquiring an additional 70 shares during the period. Chemistry Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 77.3% in the first quarter. Chemistry Wealth Management LLC now owns 1,023 shares of the medical research company's stock valued at $509,000 after purchasing an additional 446 shares during the last quarter. Pines Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 8.3% during the first quarter. Pines Wealth Management LLC now owns 2,613 shares of the medical research company's stock worth $1,300,000 after purchasing an additional 200 shares during the period. Finally, Eagle Rock Investment Company LLC boosted its stake in Thermo Fisher Scientific by 0.3% in the 1st quarter. Eagle Rock Investment Company LLC now owns 7,489 shares of the medical research company's stock valued at $3,727,000 after purchasing an additional 26 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded up $6.00 on Tuesday, hitting $414.53. The company had a trading volume of 2,573,612 shares, compared to its average volume of 1,916,092. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $156.48 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.99 and a beta of 0.78. The firm has a 50 day moving average of $418.02 and a two-hundred day moving average of $494.38.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share 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 the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $5.11 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's payout ratio is 10.09%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

Thermo Fisher Scientific 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.