Webster Bank N. A. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,427 shares of the medical research company’s stock after selling 397 shares during the period. Thermo Fisher Scientific makes up approximately 1.4% of Webster Bank N. A.’s investment portfolio, making the stock its 11th biggest holding. Webster Bank N. A.’s holdings in Thermo Fisher Scientific were worth $11,180,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners bought a new stake in shares of Thermo Fisher Scientific during the first quarter valued at approximately $29,000. OLD Mission Capital LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $31,000. Live Oak Investment Partners purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $36,000. Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific during the first quarter valued at approximately $43,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $43,000. Institutional investors own 87.06% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a report on Thursday, July 27th. KeyCorp cut their price target on shares of Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. Credit Suisse Group raised shares of Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target on the stock in a report on Thursday, July 13th. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $595.00 to $630.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Finally, Wells Fargo & Company lifted their price target on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the stock an “underweight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $631.71.
Thermo Fisher Scientific Stock Performance
NYSE:TMO traded up $0.68 during mid-day trading on Tuesday, hitting $508.41. The company’s stock had a trading volume of 621,581 shares, compared to its average volume of 1,495,193. Thermo Fisher Scientific Inc. has a 1 year low of $475.77 and a 1 year high of $609.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02. The stock has a market cap of $196.22 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.43 and a beta of 0.77. The business’s fifty day moving average is $540.37 and its two-hundred day moving average is $541.53.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 EPS for the quarter, missing the consensus estimate of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the previous year, the company posted $5.51 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s payout ratio is currently 9.57%.
Insider Transactions at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the sale, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the transaction, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $549.00, for a total transaction of $5,490,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,330 shares in the company, valued at $77,590,170. The disclosure for this sale can be found here. Insiders have sold a total of 28,700 shares of company stock valued at $15,799,270 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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