US Bancorp DE Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• US Bancorp DE reduced its holdings in Thermo Fisher Scientific by 1.5%, now owning 177,933 shares worth approximately $88.54 million.
• Analysts have set new price targets for Thermo Fisher Scientific, with UBS raising its target to $500 while Argus lowered theirs to $470, reflecting mixed views among brokerages.
• The company announced a dividend of $0.43 per share, representing an annualized yield of 0.4%, with the próxima payment scheduled for October 15th.

US Bancorp DE cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,933 shares of the medical research company's stock after selling 2,709 shares during the period. US Bancorp DE's holdings in Thermo Fisher Scientific were worth $88,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $25,000. Ameriflex Group Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. IMA Advisory Services Inc. purchased a new position in Thermo Fisher Scientific during the first quarter valued at approximately $35,000. Navigoe LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at $37,000. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TMO. UBS Group upped their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Argus cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus decreased their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a report on Friday, July 11th. Finally, Wall Street Zen raised 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $593.00.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $462.74 on Friday. The company has a 50 day simple moving average of $420.88 and a two-hundred day simple moving average of $467.66. The stock has a market cap of $174.68 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.50 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results 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. The company had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend 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 presently 9.95%.

Insider Transactions at Thermo Fisher Scientific

In other 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 transaction of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company's stock.

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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