Pinnacle Financial Partners Inc. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,687 shares of the medical research company’s stock after buying an additional 609 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Thermo Fisher Scientific were worth $1,283,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TMO. CX Institutional acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $36,000. Freestone Capital Holdings LLC grew its position in shares of Thermo Fisher Scientific by 46.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 10,081 shares of the medical research company’s stock worth $2,256,000 after buying an additional 3,180 shares during the period. Putnam FL Investment Management Co. grew its position in shares of Thermo Fisher Scientific by 2.9% during the 4th quarter. Putnam FL Investment Management Co. now owns 29,001 shares of the medical research company’s stock worth $6,490,000 after buying an additional 810 shares during the period. Steinberg Global Asset Management grew its position in shares of Thermo Fisher Scientific by 21.1% during the 1st quarter. Steinberg Global Asset Management now owns 5,747 shares of the medical research company’s stock worth $1,187,000 after buying an additional 1,000 shares during the period. Finally, Calamos Advisors LLC grew its position in shares of Thermo Fisher Scientific by 5.4% during the 4th quarter. Calamos Advisors LLC now owns 132,462 shares of the medical research company’s stock worth $29,644,000 after buying an additional 6,769 shares during the period. Hedge funds and other institutional investors own 88.39% of the company’s stock.
Several research firms have recently issued reports on TMO. Argus boosted their target price on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $264.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $312.00 price objective on the stock in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $312.00 price objective (up previously from $271.00) on shares of Thermo Fisher Scientific in a report on Monday, April 22nd. Finally, Deutsche Bank lifted their price objective on 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, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $293.77.
In other news, CEO Marc N. Casper sold 50,713 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the sale, the chief executive officer now directly owns 302,193 shares of the company’s stock, valued at approximately $82,562,149.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory J. Herrema sold 5,400 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $251.51, for a total value of $1,358,154.00. Following the sale, the senior vice president now directly owns 31,846 shares in the company, valued at $8,009,587.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,640 shares of company stock worth $23,243,423. 0.45% of the stock is currently owned by insiders.
TMO stock opened at $267.39 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.61. The company has a market cap of $104.43 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. Thermo Fisher Scientific Inc. has a 1-year low of $202.83 and a 1-year high of $282.98.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.07. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the prior year, the firm posted $2.50 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 12.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 15th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
ILLEGAL ACTIVITY WARNING: “Thermo Fisher Scientific Inc. (TMO) Shares Bought by Pinnacle Financial Partners Inc.” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2019/05/16/thermo-fisher-scientific-inc-tmo-shares-bought-by-pinnacle-financial-partners-inc.html.
Thermo Fisher Scientific Company 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.
Further Reading: Can systematic risk be avoided?
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.