Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Reduced by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 20.3% in the first quarter, according to the company in 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 quarter.

A number of other institutional investors also recently added to or reduced their stakes in TMO. Norges Bank acquired a new position in Thermo Fisher Scientific during the 4th quarter worth $3,149,754,000. GAMMA Investing LLC boosted its position in Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC boosted its position in Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after acquiring an additional 761,649 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Scotiabank cut their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Evercore ISI cut their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $605.30.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. This represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Up 0.9%

NYSE:TMO opened at $401.99 on Friday. The firm has a market capitalization of $151.75 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year 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 business's fifty day moving average price is $420.74 and its 200 day moving average price is $495.93.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.11 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

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.

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