Mechanics Bank Trust Department Increases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mechanics Bank Trust Department raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,170 shares of the medical research company’s stock after purchasing an additional 381 shares during the period. Mechanics Bank Trust Department’s holdings in Thermo Fisher Scientific were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Moneta Group Investment Advisors LLC lifted its holdings in Thermo Fisher Scientific by 104,536.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after purchasing an additional 8,347,260 shares in the last quarter. Providence Capital Advisors LLC increased its stake in Thermo Fisher Scientific by 61,754.7% during the 1st quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after buying an additional 5,832,730 shares in the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $3,105,677,000. Polen Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $1,208,055,000. Finally, Morgan Stanley increased its position in shares of Thermo Fisher Scientific by 17.7% during the fourth quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock worth $6,459,629,000 after purchasing an additional 1,764,312 shares in the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. They set a “buy” rating and a $625.00 target price on the stock. KeyCorp cut their price objective on shares of Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. Credit Suisse Group upgraded Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 target price on the stock in a report on Thursday, July 13th. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. Finally, Royal Bank of Canada upped their target price on Thermo Fisher Scientific from $662.00 to $698.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $631.71.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $515.53 on Friday. The company has a market cap of $198.97 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.43 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $475.77 and a 1-year high of $609.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02. The stock has a 50-day moving average of $540.37 and a two-hundred day moving average of $541.51.

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

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 14,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the completion of the transaction, the chief financial officer now owns 27,393 shares in the company, valued at approximately $15,066,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the transaction, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 14,100 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the completion of the transaction, the chief financial officer now owns 27,393 shares of the company’s stock, valued at approximately $15,066,150. The disclosure for this sale can be found here. Insiders have sold 28,700 shares of company stock valued at $15,799,270 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific 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.