Inspire Trust Co. N.A. Purchases 900 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Inspire Trust Co. N.A. increased its holdings in Thermo Fisher Scientific by 18.4% in Q1, now owning 5,800 shares, valued at approximately $2.89 million.
• Several institutional investors, including Vanguard Group and T. Rowe Price, have also boosted their stakes in Thermo Fisher, reflecting strong institutional interest with hedge funds owning 89.23% of the stock.
• The company announced a quarterly dividend of $0.43 per share, with an annualized yield of 0.4%, scheduled for payment on October 15th.

Inspire Trust Co. N.A. increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the medical research company's stock after buying an additional 900 shares during the period. Inspire Trust Co. N.A.'s holdings in Thermo Fisher Scientific were worth $2,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Vestmark Advisory Solutions Inc. grew its holdings in shares of Thermo Fisher Scientific by 99.7% during the first quarter. Vestmark Advisory Solutions Inc. now owns 14,491 shares of the medical research company's stock valued at $7,211,000 after buying an additional 7,235 shares during the last quarter. Harfst & Associates Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $602,000. Sit Investment Associates Inc. grew its position in shares of Thermo Fisher Scientific by 1.1% during the 1st quarter. Sit Investment Associates Inc. now owns 24,823 shares of the medical research company's stock valued at $12,352,000 after acquiring an additional 276 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $149,000. Finally, E Fund Management Co. Ltd. boosted its holdings in Thermo Fisher Scientific by 13.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,590 shares of the medical research company's stock worth $2,782,000 after buying an additional 680 shares during the period. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 1.0%

NYSE TMO traded up $4.92 on Friday, hitting $489.96. 2,462,453 shares of the stock were exchanged, compared to its average volume of 3,069,315. The company has a 50-day moving average price of $434.83 and a 200-day moving average price of $460.05. 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 company has a market cap of $185.01 billion, a PE ratio of 28.34, a PEG ratio of 2.61 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 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 firm had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the previous year, the firm posted $5.37 earnings per share. Thermo Fisher Scientific's 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 fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on TMO shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Argus decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird boosted their price target 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. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $593.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific 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 owned 22,367 shares in the company, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,400 shares of company stock worth $8,345,792. Company insiders own 0.33% of the company's stock.

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.