First Western Trust Bank Decreases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• First Western Trust Bank reduced its holdings in Thermo Fisher Scientific by 6.8%, now owning 10,268 shares worth approximately $5.11 million.
• CEO Marc N. Casper sold 10,000 shares of the company at an average price of $451.82, reducing his ownership by 7.99%.
• Wall Street analysts have mixed views on Thermo Fisher, with price targets ranging from $480 to $637, and an average rating of "Moderate Buy."

First Western Trust Bank decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,268 shares of the medical research company's stock after selling 752 shares during the period. First Western Trust Bank's holdings in Thermo Fisher Scientific were worth $5,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TMO. Revolve Wealth Partners LLC increased its position in Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares during the last quarter. Port Capital LLC increased its position in Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after purchasing an additional 22 shares during the last quarter. Clark Capital Management Group Inc. increased its position in Thermo Fisher Scientific by 0.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 23 shares during the last quarter. Monograph Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 0.3% in the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after purchasing an additional 23 shares during the last quarter. Finally, Intergy Private Wealth LLC increased its position in Thermo Fisher Scientific by 5.8% in the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after purchasing an additional 23 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,037,916.68. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TMO. Hsbc Global Res cut shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. HSBC reaffirmed a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Stock Up 0.4%

Thermo Fisher Scientific stock traded up $1.87 during trading hours on Monday, reaching $462.59. The stock had a trading volume of 1,706,656 shares, compared to its average volume of 3,186,595. 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 current ratio of 1.93 and a quick ratio of 1.50. The company has a market cap of $174.68 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.46 and a beta of 0.74. The business's 50 day moving average price is $426.80 and its 200-day moving average price is $462.63.

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 for the quarter, topping the consensus estimate 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 company had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the company earned $5.37 EPS. Thermo Fisher Scientific's quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

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.