Commerce Bank Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Commerce Bank has reduced its stake in Thermo Fisher Scientific Inc. by 1.6%, holding 213,750 shares valued at approximately $106.36 million as of the end of the first quarter.
• Recent quarterly earnings for Thermo Fisher exceeded expectations, with an EPS of $5.36 and revenues of $10.86 billion, showing a year-over-year revenue increase of 2.9%.
• The company is set to pay a quarterly dividend of $0.43 on October 15th, translating to an annualized dividend yield of 0.4%.

Commerce Bank lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,750 shares of the medical research company's stock after selling 3,552 shares during the period. Commerce Bank owned about 0.06% of Thermo Fisher Scientific worth $106,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Capital World Investors grew its stake in Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock worth $4,905,812,000 after acquiring an additional 104,343 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after purchasing an additional 1,433,444 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Thermo Fisher Scientific by 7.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock worth $1,432,816,000 after purchasing an additional 193,378 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Thermo Fisher Scientific by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,420,949 shares of the medical research company's stock worth $1,259,450,000 after buying an additional 257,462 shares during the period. Institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated 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 of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $467.56 on Friday. The company has a market cap of $176.50 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. 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 firm's 50-day moving average price is $419.50 and its 200-day moving average price is $468.31. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the business posted $5.37 EPS. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities 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. Stockholders 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 dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is currently 9.95%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group raised their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Barclays raised their target price 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. Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Raymond James Financial reissued an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, HSBC restated a "hold" rating and set a $510.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $593.00.

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.

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