Zions Bancorporation National Association UT Makes New $5.83 Million Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Zions Bancorporation National Association UT purchased 11,718 shares of Thermo Fisher Scientific, valued at approximately $5.83 million, marking a new position for the institutional investor in the first quarter.
• The company reported a Q2 earnings per share (EPS) of $5.36, exceeding estimates and reflecting a year-over-year revenue increase of 2.9% to $10.86 billion.
• Thermo Fisher Scientific announced a quarterly dividend of $0.43 per share, with an upcoming payment date of October 15th, resulting in a 0.4% dividend yield.

Zions Bancorporation National Association UT bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,718 shares of the medical research company's stock, valued at approximately $5,831,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after purchasing an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after acquiring an additional 858,193 shares during the last quarter. Farallon Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 73.8% during the fourth quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after acquiring an additional 523,800 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at $242,991,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Hsbc Global Res cut shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Barclays boosted their price target on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Argus reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Royal Bank Of Canada cut their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James Financial restated an "outperform" rating and issued a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $1.87 during trading hours on Monday, hitting $462.59. The company had a trading volume of 1,706,656 shares, compared to its average volume of 3,186,595. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $426.80 and a 200-day simple moving average of $462.63. The firm has a market cap of $174.68 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter last year, the business posted $5.37 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 8,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $454.45, for a total value of $3,635,600.00. Following the completion of the sale, the chief executive officer owned 115,174 shares of the company's stock, valued at $52,340,824.30. This represents a 6.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,400 shares of company stock worth $8,345,792 in the last three months. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Profile

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.