Gulf International Bank UK Ltd Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Thermo Fisher Scientific Inc. by 25.3% in the first quarter, owning 22,083 shares valued at approximately $10.99 million.
• The company reported earnings per share (EPS) of $5.36 for the most recent quarter, beating analysts' expectations, with a year-over-year revenue increase of 2.9%.
• Thermo Fisher Scientific declared a quarterly dividend of $0.43, representing a 0.4% yield, to be paid on October 15th.

Gulf International Bank UK Ltd lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 25.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,083 shares of the medical research company's stock after selling 7,496 shares during the period. Gulf International Bank UK Ltd's holdings in Thermo Fisher Scientific were worth $10,988,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth about $25,000. Ameriflex Group Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. IMA Advisory Services Inc. bought a new position in shares of Thermo Fisher Scientific during the first quarter worth about $35,000. Navigoe LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Thermo Fisher Scientific during the first quarter worth about $37,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 0.2%

Shares of TMO stock traded up $0.83 during trading hours on Thursday, reaching $485.62. The company had a trading volume of 1,955,228 shares, compared to its average volume of 3,096,282. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month 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 business has a fifty day simple moving average of $433.08 and a 200-day simple moving average of $461.44. The company has a market cap of $183.38 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the company earned $5.37 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 8,000 shares of Thermo Fisher Scientific stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the sale, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $52,340,824.30. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,400 shares of company stock worth $8,345,792 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Raymond James Financial reiterated an "outperform" rating and issued a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Wells Fargo & Company lowered 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. Finally, Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.