PNC Financial Services Group Inc. Has $135.37 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• PNC Financial Services Group Inc. increased its holdings in Thermo Fisher Scientific Inc. by 0.6%, bringing its total to 272,053 shares valued at approximately $135.37 million.
• Recent earnings results showed that Thermo Fisher reported $5.36 EPS for the quarter, exceeding the consensus estimate and representing a 2.9% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.43 per share, reflecting a yield of 0.4% and indicating a strong commitment to returning value to shareholders.

PNC Financial Services Group Inc. raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,053 shares of the medical research company's stock after buying an additional 1,591 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Thermo Fisher Scientific worth $135,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new position in Thermo Fisher Scientific in the first quarter valued at about $35,000. Navigoe LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $37,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Argus lowered their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. HSBC restated a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, Barclays increased their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Stock Down 2.3%

TMO stock traded down $10.86 during mid-day trading on Wednesday, reaching $455.56. The company had a trading volume of 587,297 shares, compared to its average volume of 2,511,167. 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 stock has a 50 day simple moving average of $423.62 and a two-hundred day simple moving average of $465.77. The company has a market capitalization of $172.02 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.49 and a beta of 0.74. 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 released its quarterly earnings data 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 return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period last year, the firm posted $5.37 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

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.