Cullen Frost Bankers Inc. Acquires 2,769 Shares of Thermo Fisher Scientific Inc. $TMO

Cullen Frost Bankers Inc. increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,558 shares of the medical research company’s stock after buying an additional 2,769 shares during the period. Cullen Frost Bankers Inc.’s holdings in Thermo Fisher Scientific were worth $17,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TMO. Highline Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Capital A Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its position in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after buying an additional 61 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after acquiring an additional 45 shares in the last quarter. Finally, Howard Hughes Medical Institute purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $580.00 to $660.00 in a research report on Thursday, December 11th. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a research report on Wednesday, October 8th. TD Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday, January 7th. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 10,225 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the completion of the transaction, the vice president owned 14,145 shares of the company’s stock, valued at $8,085,564.90. The trade was a 41.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the sale, the chief operating officer directly owned 65,480 shares in the company, valued at approximately $38,200,377.20. This trade represents a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 131,767 shares of company stock worth $76,467,793. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $625.42 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The firm has a market cap of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.12 and a beta of 0.91. The business’s 50 day moving average price is $590.88 and its 200 day moving average price is $531.60.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.28 EPS. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.