First Hawaiian Bank Purchases 524 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

First Hawaiian Bank lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,404 shares of the medical research company’s stock after acquiring an additional 524 shares during the period. First Hawaiian Bank’s holdings in Thermo Fisher Scientific were worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connecticut Wealth Management LLC grew its position in Thermo Fisher Scientific by 3.0% in the 1st quarter. Connecticut Wealth Management LLC now owns 614 shares of the medical research company’s stock worth $354,000 after purchasing an additional 18 shares during the period. Sage Rhino Capital LLC grew its position in Thermo Fisher Scientific by 2.6% in the 1st quarter. Sage Rhino Capital LLC now owns 723 shares of the medical research company’s stock worth $417,000 after purchasing an additional 18 shares during the period. Savant Capital LLC grew its position in Thermo Fisher Scientific by 0.5% in the 4th quarter. Savant Capital LLC now owns 3,627 shares of the medical research company’s stock worth $1,997,000 after purchasing an additional 18 shares during the period. Crumly & Associates Inc. grew its position in Thermo Fisher Scientific by 1.5% in the 1st quarter. Crumly & Associates Inc. now owns 1,274 shares of the medical research company’s stock worth $734,000 after purchasing an additional 19 shares during the period. Finally, 1776 Wealth LLC grew its position in Thermo Fisher Scientific by 2.4% in the 4th quarter. 1776 Wealth LLC now owns 799 shares of the medical research company’s stock worth $440,000 after purchasing an additional 19 shares during the period. Institutional investors own 87.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $662.00 to $698.00 in a research report on Thursday, July 27th. Credit Suisse Group upgraded shares of Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 target price on the stock in a research note on Thursday, July 13th. Raymond James lifted their target price on shares of Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, KeyCorp lowered their target price on shares of Thermo Fisher Scientific from $710.00 to $640.00 in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $631.71.

Thermo Fisher Scientific Stock Up 1.0 %

Shares of NYSE TMO opened at $515.64 on Friday. The firm’s 50-day moving average price is $540.37 and its 200-day moving average price is $541.88. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $199.01 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 2.41 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $609.85.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 EPS for the quarter, missing the consensus estimate of $5.43 by ($0.28). The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.99 billion. Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.51 earnings per share. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.57%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now owns 17,556 shares of the company’s stock, valued at $9,792,210.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $550.60, for a total value of $880,960.00. Following the completion of the transaction, the chief executive officer now owns 135,330 shares of the company’s stock, valued at $74,512,698. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the transaction, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,700 shares of company stock valued at $15,799,270. Company insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.