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First American Trust FSB Buys 5,149 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Thermo Fisher Scientific logo with Medical background

Key Points

  • First American Trust FSB increased its stake in Thermo Fisher Scientific by 31.9% in the first quarter, holding 21,304 shares valued at approximately $10.6 million.
  • Thermo Fisher Scientific reported earnings per share of $5.36 for the last quarter, exceeding analysts' estimates and achieving a revenue of $10.86 billion.
  • The company has declared a quarterly dividend of $0.43, with an ex-dividend date set for September 15th, marking a 0.4% yield on its stocks.
  • Want stock alerts on Thermo Fisher Scientific? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

First American Trust FSB increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 31.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,304 shares of the medical research company's stock after acquiring an additional 5,149 shares during the quarter. Thermo Fisher Scientific comprises about 1.0% of First American Trust FSB's investment portfolio, making the stock its 29th biggest position. First American Trust FSB's holdings in Thermo Fisher Scientific were worth $10,601,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TMO. GAMMA Investing LLC raised its holdings in Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Nuveen LLC bought a new position in Thermo Fisher Scientific in the 1st quarter worth $532,360,000. Kovitz Investment Group Partners LLC boosted its holdings in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after purchasing an additional 858,193 shares during the period. Finally, Farallon Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 73.8% in the 4th quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after purchasing an additional 523,800 shares during the period. Institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 8,000 shares of the business's 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 completion of the sale, the chief executive officer owned 115,174 shares in the company, valued at $52,340,824.30. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the business's 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 of the company's stock, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,400 shares of company stock valued at $8,345,792. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $0.42 during trading hours on Thursday, hitting $485.21. 1,321,547 shares of the company's stock were exchanged, compared to its average volume of 2,493,893. The stock's 50-day moving average is $431.32 and its 200-day moving average is $462.11. 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 market cap of $183.22 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.55 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 announced its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping the consensus estimate of $5.22 by $0.14. The company had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.37 earnings per share. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's payout ratio is presently 9.95%.

Analyst Ratings Changes

A number of analysts have weighed in on TMO shares. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Royal Bank Of Canada lowered their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Argus lowered 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 report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $535.00 price target (up previously from $525.00) on shares of Thermo Fisher Scientific in a report 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Read Our Latest Analysis on TMO

About Thermo Fisher Scientific

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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