Mitsubishi UFJ Trust & Banking Corp Sells 5,549 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Mitsubishi UFJ Trust & Banking Corp sold 5,549 shares of Thermo Fisher Scientific Inc., reducing its holdings by 2.2% and now owning approximately 0.07% of the company worth $124.4 million.
• Thermo Fisher Scientific reported earnings per share of $5.36 for the quarter, surpassing analysts' expectations, and noted a revenue of $10.86 billion, reflecting a year-over-year increase of 2.9%.
• Institutional investors own 89.23% of Thermo Fisher Scientific, with a significant number of recent adjustments in positions by various investment firms, indicating continued interest in the company's stock.

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,093 shares of the medical research company's stock after selling 5,549 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Thermo Fisher Scientific worth $124,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cypress Advisory Group LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $253,000. GAMMA Investing LLC boosted its position in Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after acquiring an additional 877 shares in the last quarter. Deutsche Bank AG boosted its position in Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after acquiring an additional 114,277 shares in the last quarter. Hancock Whitney Corp boosted its position in Thermo Fisher Scientific by 0.6% during the 4th quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after acquiring an additional 30 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its position in Thermo Fisher Scientific by 3.3% during the 1st quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after acquiring an additional 150 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction 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 directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $462.74 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The firm has a market cap of $174.68 billion, a P/E ratio of 26.76, a PEG ratio of 2.50 and a beta of 0.77. The company has a 50 day moving average of $420.88 and a 200 day moving average of $467.66. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced 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. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.37 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI cut their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Barclays lifted their price objective on 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. HSBC reissued a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Finally, Hsbc Global Res cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Company 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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