Comerica Bank Has $57.67 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Comerica Bank lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,856 shares of the medical research company's stock after selling 5,782 shares during the period. Comerica Bank's holdings in Thermo Fisher Scientific were worth $57,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TMO. Nordea Investment Management AB increased its position in Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock valued at $28,868,000 after acquiring an additional 10,606 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its stake in Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company's stock valued at $5,528,000 after buying an additional 618 shares during the period. Czech National Bank boosted its holdings in Thermo Fisher Scientific by 6.6% during the fourth quarter. Czech National Bank now owns 82,934 shares of the medical research company's stock worth $43,145,000 after buying an additional 5,118 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Thermo Fisher Scientific by 1.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 182,511 shares of the medical research company's stock valued at $94,948,000 after acquiring an additional 3,460 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $4,758,000. Institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,200 shares of company stock worth $13,235,041 in the last quarter. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Robert W. Baird reduced their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Citigroup dropped their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, StockNews.com cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $607.43.

Thermo Fisher Scientific Price Performance

NYSE TMO traded up $3.80 during trading on Friday, hitting $423.69. 2,492,422 shares of the company's stock were exchanged, compared to its average volume of 1,769,243. The stock's 50 day moving average price is $476.15 and its two-hundred day moving average price is $521.64. Thermo Fisher Scientific Inc. has a fifty-two week low of $409.85 and a fifty-two week 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 company has a market cap of $159.94 billion, a PE ratio of 25.63, a P/E/G ratio of 2.99 and a beta of 0.86.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter last year, the business posted $5.11 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific's payout ratio is 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.