UNIVEST FINANCIAL Corp Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• UNIVEST FINANCIAL Corp has reduced its stake in Thermo Fisher Scientific by 21.2%, owning 31,337 shares valued at approximately $15.6 million, making it the firm's 20th largest position.
• Several large investors, including Capital World Investors and T. Rowe Price, have increased their holdings in Thermo Fisher, suggesting strong institutional interest in the company.
• Thermo Fisher recently reported a quarterly earnings per share (EPS) of $5.36, surpassing the estimate of $5.22, with revenues of $10.86 billion, reflecting a 2.9% increase year-over-year.

UNIVEST FINANCIAL Corp reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,337 shares of the medical research company's stock after selling 8,439 shares during the quarter. Thermo Fisher Scientific comprises about 1.0% of UNIVEST FINANCIAL Corp's holdings, making the stock its 20th largest position. UNIVEST FINANCIAL Corp's holdings in Thermo Fisher Scientific were worth $15,593,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 1.1% during the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock worth $4,905,812,000 after purchasing an additional 104,343 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Thermo Fisher Scientific by 86.9% during the fourth 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 buying an additional 1,433,444 shares during the period. Pictet Asset Management Holding SA increased its holdings in Thermo Fisher Scientific by 7.2% in the first quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock valued at $1,432,816,000 after buying an additional 193,378 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Thermo Fisher Scientific by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,420,949 shares of the medical research company's stock valued at $1,259,450,000 after acquiring an additional 257,462 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Robert W. Baird upped their price target on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial reissued an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Hsbc Global Res lowered Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company dropped their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $467.56 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The company has a market cap of $176.50 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.55 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The firm has a 50 day moving average price of $419.50 and a 200 day moving average price of $468.31.

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 company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.37 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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 issued 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%.

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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