Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lowered by Bremer Bank National Association

Bremer Bank National Association lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,656 shares of the medical research company’s stock after selling 44 shares during the period. Bremer Bank National Association’s holdings in Thermo Fisher Scientific were worth $1,469,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $2,909,524,000. Capital World Investors lifted its holdings in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $705,636,000. Veritas Asset Management LLP raised its position in Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $333,786,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,238,340.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,084 shares of company stock worth $19,767,092. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

TMO has been the subject of several recent analyst reports. Royal Bank of Canada upped their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Raymond James raised their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, HSBC boosted their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $618.94.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded down $2.23 during midday trading on Wednesday, reaching $601.98. The company’s stock had a trading volume of 1,128,139 shares, compared to its average volume of 1,552,292. The business’s fifty day simple moving average is $569.40 and its 200-day simple moving average is $571.01. The company has a market capitalization of $229.96 billion, a P/E ratio of 38.41, a P/E/G ratio of 2.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the company earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

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.