Gianluca Pettiti Sells 400 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) Stock

Key Points

• Gianluca Pettiti, EVP of Thermo Fisher Scientific, sold 400 shares at an average price of $479.98, totaling $191,992, which reduced his ownership by 1.76%.
• Thermo Fisher Scientific reported a quarterly earnings per share of $5.36, surpassing the estimate of $5.22, and generated revenue of $10.86 billion for the quarter.
• The company announced a quarterly dividend of $0.43 per share, with an upcoming ex-dividend date on September 15th.

Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated 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 directly owned 22,367 shares of the company's stock, valued at $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Thermo Fisher Scientific Stock Performance

TMO traded down $10.92 during trading hours on Friday, reaching $456.76. The company's stock had a trading volume of 886,067 shares, compared to its average volume of 2,516,653. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company's 50-day moving average is $419.50 and its 200-day moving average is $468.31. 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 firm has a market cap of $172.42 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share 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 business had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the prior year, the business earned $5.37 EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is presently 9.95%.

Institutional Investors Weigh In On Thermo Fisher Scientific

A number of institutional investors have recently modified their holdings of TMO. Brighton Jones LLC lifted its position in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after purchasing an additional 988 shares during the period. Revolve Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after acquiring an additional 20 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock worth $79,677,000 after acquiring an additional 461 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth about $48,000. Finally, Level Four Advisory Services LLC raised its stake in Thermo Fisher Scientific by 14.2% during the fourth quarter. Level Four Advisory Services LLC now owns 1,118 shares of the medical research company's stock worth $582,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TMO shares. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. 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 research note on Tuesday, April 29th. 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 research note on Thursday, April 24th. HSBC reaffirmed a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $593.00.

About Thermo Fisher Scientific

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.