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Citizens Financial Group Inc. RI Sells 719 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Thermo Fisher Scientific logo with Medical background

Key Points

  • Citizens Financial Group Inc. reduced its stake in Thermo Fisher Scientific Inc. by 2.4%, selling 719 shares for a total of 28,989 shares valued at approximately $14.43 million.
  • Thermo Fisher Scientific reported a quarterly EPS of $5.36, surpassing analysts' expectations of $5.22, with revenue of $10.86 billion for the quarter.
  • The company will pay a quarterly dividend of $0.43 on October 15th, representing an annualized yield of 0.4%, with a payout ratio of 9.95%.
  • Want stock alerts on Thermo Fisher Scientific? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Citizens Financial Group Inc. RI lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,989 shares of the medical research company's stock after selling 719 shares during the period. Citizens Financial Group Inc. RI's holdings in Thermo Fisher Scientific were worth $14,432,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after acquiring an additional 988 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after acquiring an additional 461 shares during the last quarter. Invesco Ltd. boosted its position in Thermo Fisher Scientific by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,677,581 shares of the medical research company's stock valued at $872,728,000 after acquiring an additional 99,688 shares during the last quarter. Finally, FIL Ltd boosted its position in Thermo Fisher Scientific by 58.5% during the fourth quarter. FIL Ltd now owns 347,139 shares of the medical research company's stock valued at $180,592,000 after acquiring an additional 128,095 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Up 0.0%

Shares of TMO stock opened at $466.61 on Wednesday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The company has a 50-day simple moving average of $423.62 and a two-hundred day simple moving average of $465.77. The company has a market capitalization of $176.20 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.49 and a beta of 0.74.

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

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were 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. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday. Robert W. Baird upped their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial reiterated an "outperform" rating and set a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, UBS Group upped their price objective on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

View Our Latest Stock Report on Thermo Fisher Scientific

About Thermo Fisher Scientific

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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