W.H. Cornerstone Investments Inc. Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• W.H. Cornerstone Investments Inc. increased their holdings in Thermo Fisher Scientific by 26.1%, owning 3,618 shares valued at approximately $1.8 million.
• Thermo Fisher reported an EPS of $5.36 for the last quarter, exceeding estimates and showing a revenue increase of 2.9% year-over-year.
• The company announced a quarterly dividend of $0.43 per share, with a 0.4% dividend yield and a payout ratio of 9.95%.

W.H. Cornerstone Investments Inc. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,618 shares of the medical research company's stock after purchasing an additional 748 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.2% of W.H. Cornerstone Investments Inc.'s investment portfolio, making the stock its 16th largest position. W.H. Cornerstone Investments Inc.'s holdings in Thermo Fisher Scientific were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cypress Advisory Group LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at $253,000. GAMMA Investing LLC lifted its holdings in shares of Thermo Fisher Scientific by 22.0% during the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after purchasing an additional 877 shares during the period. Deutsche Bank AG increased its holdings in Thermo Fisher Scientific by 9.5% in the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after buying an additional 114,277 shares during the period. Hancock Whitney Corp boosted its holdings in shares of Thermo Fisher Scientific by 0.6% in 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 during the last quarter. Finally, Cetera Trust Company N.A raised its holdings in shares of Thermo Fisher Scientific by 3.3% during the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 150 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of the 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 0.0%

Thermo Fisher Scientific stock traded up $0.04 during mid-day trading on Tuesday, hitting $466.61. The company's stock had a trading volume of 1,978,967 shares, compared to its average volume of 3,341,029. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The stock's fifty day moving average is $422.36 and its two-hundred day moving average is $465.77. The firm has a market capitalization of $176.20 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion during 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $5.37 EPS. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm 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 dividend payout ratio (DPR) is 9.95%.

Analysts Set New Price Targets

Several brokerages have weighed in on TMO. UBS Group increased their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Hsbc Global Res lowered Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Barclays boosted their target price on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has a consensus 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.