Community Bank N.A. increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,818 shares of the medical research company’s stock after buying an additional 34 shares during the period. Community Bank N.A.’s holdings in Thermo Fisher Scientific were worth $658,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TMO. Capital World Investors boosted its holdings in shares of Thermo Fisher Scientific by 8.0% in the first quarter. Capital World Investors now owns 16,824,726 shares of the medical research company’s stock worth $4,771,494,000 after acquiring an additional 1,242,140 shares during the period. State Street Corp boosted its stake in Thermo Fisher Scientific by 1.0% in the 1st quarter. State Street Corp now owns 16,503,764 shares of the medical research company’s stock worth $4,684,029,000 after purchasing an additional 165,895 shares during the period. Primecap Management Co. CA grew its holdings in Thermo Fisher Scientific by 2.0% during the 1st quarter. Primecap Management Co. CA now owns 4,845,351 shares of the medical research company’s stock valued at $1,374,142,000 after buying an additional 92,885 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Thermo Fisher Scientific by 0.7% during the first quarter. Wells Fargo & Company MN now owns 2,872,199 shares of the medical research company’s stock valued at $814,556,000 after buying an additional 18,582 shares during the period. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Thermo Fisher Scientific by 5.2% in the first quarter. Pictet Asset Management Ltd. now owns 2,774,089 shares of the medical research company’s stock worth $786,732,000 after buying an additional 137,370 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
In related news, CEO Marc N. Casper sold 20,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $349.26, for a total value of $6,985,200.00. Following the completion of the sale, the chief executive officer now owns 294,946 shares of the company’s stock, valued at $103,012,839.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 19,800 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $410.83, for a total transaction of $8,134,434.00. Following the completion of the sale, the chief financial officer now owns 57,789 shares in the company, valued at approximately $23,741,454.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,031 shares of company stock worth $67,284,857. 0.44% of the stock is owned by company insiders.
Several equities analysts recently commented on the stock. Cleveland Research raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 15th. Cowen reaffirmed a “buy” rating and issued a $380.00 price target on shares of Thermo Fisher Scientific in a report on Monday, July 6th. Stifel Nicolaus lifted their price objective on Thermo Fisher Scientific from $370.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Robert W. Baird upped their target price on Thermo Fisher Scientific from $352.00 to $436.00 in a research note on Thursday, July 23rd. Finally, Citigroup raised their price target on Thermo Fisher Scientific from $390.00 to $471.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus price target of $420.50.
Shares of TMO traded up $3.39 during mid-day trading on Friday, reaching $413.95. The company’s stock had a trading volume of 1,217,905 shares, compared to its average volume of 1,232,426. The company has a current ratio of 2.62, a quick ratio of 2.02 and a debt-to-equity ratio of 0.69. Thermo Fisher Scientific Inc. has a 52 week low of $250.21 and a 52 week high of $420.99. The company’s fifty day moving average price is $373.97 and its two-hundred day moving average price is $335.37. The stock has a market cap of $163.49 billion, a PE ratio of 44.80, a P/E/G ratio of 1.85 and a beta of 1.04.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $1.22. Thermo Fisher Scientific had a net margin of 14.12% and a return on equity of 18.18%. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.91 billion. During the same quarter in the prior year, the company posted $3.04 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 14.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 0.21%. Thermo Fisher Scientific’s payout ratio is presently 7.13%.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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