US Bancorp DE cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,114 shares of the medical research company’s stock after selling 3,265 shares during the quarter. US Bancorp DE owned about 0.05% of Thermo Fisher Scientific worth $101,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Thermo Fisher Scientific by 100,798.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 406,539,228 shares of the medical research company’s stock valued at $212,111,842,000 after acquiring an additional 406,136,310 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position 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 during the last quarter. Providence Capital Advisors LLC grew its stake in Thermo Fisher Scientific by 61,754.7% in 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 bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $3,105,677,000. Finally, Arthur M. Cohen & Associates LLC grew its position in Thermo Fisher Scientific by 30,904.9% in the second quarter. Arthur M. Cohen & Associates LLC now owns 3,124,051 shares of the medical research company’s stock worth $5,209,000 after acquiring an additional 3,113,975 shares in the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $454.41, for a total transaction of $4,544,100.00. Following the sale, the chief executive officer now owns 131,175 shares in the company, valued at $59,607,231.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $454.41, for a total transaction of $4,544,100.00. Following the completion of the transaction, the chief executive officer now owns 131,175 shares in the company, valued at $59,607,231.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 3,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,000 shares of company stock valued at $10,778,910. Corporate insiders own 0.32% of the company’s stock.
Thermo Fisher Scientific Stock Up 0.0 %
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $5.69 EPS for the quarter, beating the consensus estimate of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The firm had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm earned $5.08 EPS. The company’s revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 14th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.17%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on TMO. Raymond James dropped their price target on Thermo Fisher Scientific from $580.00 to $515.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Wells Fargo & Company raised shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 price objective for the company in a research note on Wednesday, October 25th. Sanford C. Bernstein assumed coverage on shares of Thermo Fisher Scientific in a research report on Thursday, September 28th. They issued an “outperform” rating and a $603.00 target price on the stock. Finally, Morgan Stanley reduced their price objective on Thermo Fisher Scientific from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $593.94.
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.
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