City Holding Co. Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

City Holding Co. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 3,600 shares of the medical research company’s stock after selling 142 shares during the period. City Holding Co.’s holdings in Thermo Fisher Scientific were worth $1,791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $25,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Ameriflex Group Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $35,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TMO shares. Argus reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. UBS Group dropped their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research 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 research note on Thursday, April 24th. Finally, Evercore ISI reduced their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Up 0.9%

Shares of Thermo Fisher Scientific stock opened at $401.99 on Monday. The company has a fifty day simple moving average of $420.74 and a 200-day simple moving average of $495.68. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month 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 cap 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 (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.11 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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