Watch Point Trust Co Increases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Watch Point Trust Co grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,137 shares of the medical research company’s stock after acquiring an additional 1,353 shares during the quarter. Watch Point Trust Co’s holdings in Thermo Fisher Scientific were worth $3,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Thermo Fisher Scientific by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 30,670,985 shares of the medical research company’s stock worth $9,007,455,000 after buying an additional 378,260 shares during the period. BlackRock Inc. boosted its holdings in Thermo Fisher Scientific by 1.4% in the second quarter. BlackRock Inc. now owns 27,643,905 shares of the medical research company’s stock valued at $8,118,461,000 after purchasing an additional 392,227 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Thermo Fisher Scientific by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,139,325 shares of the medical research company’s stock valued at $5,033,477,000 after acquiring an additional 395,830 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Thermo Fisher Scientific by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 3,559,667 shares of the medical research company’s stock valued at $1,045,404,000 after acquiring an additional 102,504 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Thermo Fisher Scientific by 22.9% in the second quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock valued at $877,186,000 after acquiring an additional 555,802 shares during the period. 88.24% of the stock is currently owned by institutional investors and hedge funds.

NYSE:TMO traded up $1.11 during trading hours on Friday, hitting $294.65. The company’s stock had a trading volume of 773,005 shares, compared to its average volume of 1,323,858. The business’s 50-day moving average is $290.14 and its two-hundred day moving average is $283.57. The company has a market capitalization of $117.34 billion, a PE ratio of 26.50, a PEG ratio of 1.90 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.80. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $306.00.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.06. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. The business had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the business posted $2.62 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 12.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.

Several equities research analysts have recently weighed in on TMO shares. Needham & Company LLC increased their price objective on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday, July 25th. ValuEngine downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Credit Suisse Group reissued a “buy” rating and issued a $310.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $314.45.

In related news, Director Jim P. Manzi sold 1,833 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total transaction of $500,280.69. Following the sale, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 47,729 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $295.88, for a total value of $14,122,056.52. Following the sale, the chief executive officer now directly owns 328,960 shares in the company, valued at approximately $97,332,684.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,833 shares of company stock valued at $15,299,095. Company 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.

Featured Article: What are Bollinger Bands?

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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.



Leave a Reply