Cadence Bank NA raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,787 shares of the medical research company’s stock after acquiring an additional 62 shares during the period. Cadence Bank NA’s holdings in Thermo Fisher Scientific were worth $1,584,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 4.4% during the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after purchasing an additional 393 shares during the period. CX Institutional purchased a new stake in Thermo Fisher Scientific in the 1st quarter valued at about $36,000. Freestone Capital Holdings LLC boosted its position in Thermo Fisher Scientific by 46.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 10,081 shares of the medical research company’s stock valued at $2,256,000 after buying an additional 3,180 shares during the period. Buckingham Asset Management LLC boosted its position in Thermo Fisher Scientific by 6.9% in the 1st quarter. Buckingham Asset Management LLC now owns 2,106 shares of the medical research company’s stock valued at $576,000 after buying an additional 136 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in Thermo Fisher Scientific by 14.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,918 shares of the medical research company’s stock valued at $793,000 after buying an additional 377 shares during the period. Institutional investors own 87.89% of the company’s stock.
Several equities research analysts have issued reports on TMO shares. UBS Group boosted their price objective on shares of Thermo Fisher Scientific to $305.00 and gave the company a “buy” rating in a research report on Monday, March 25th. BTIG Research boosted their price objective on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Bank of America restated a “buy” rating and issued a $300.00 price target (up previously from $285.00) on shares of Thermo Fisher Scientific in a report on Tuesday, April 16th. Finally, Deutsche Bank boosted their price target on shares of Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus price target of $295.92.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.07. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.04 billion. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. Thermo Fisher Scientific’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 12.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 14th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.83%.
In other news, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total value of $670,725.00. Following the sale, the chief financial officer now directly owns 40,029 shares of the company’s stock, valued at approximately $10,739,380.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 50,713 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the completion of the sale, the chief executive officer now directly owns 302,193 shares in the company, valued at $82,562,149.53. The disclosure for this sale can be found here. Insiders sold a total of 53,488 shares of company stock worth $14,600,474 over the last ninety days. Insiders own 0.45% of the company’s stock.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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