Zions Bancorporation N.A. Purchases 1,407 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Zions Bancorporation N.A. raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,862 shares of the medical research company’s stock after buying an additional 1,407 shares during the quarter. Zions Bancorporation N.A.’s holdings in Thermo Fisher Scientific were worth $6,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the third quarter worth about $26,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Finally, Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock worth $13,106,062. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TMO. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Scotiabank raised their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Trading Up 0.5 %

Shares of TMO stock opened at $520.25 on Tuesday. The stock has a 50-day moving average of $545.44 and a 200-day moving average of $554.91. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market cap of $196.27 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.33%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

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.