US Bancorp DE Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

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US Bancorp DE lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 213,561 shares of the medical research company’s stock after selling 9,373 shares during the quarter. US Bancorp DE’s holdings in Thermo Fisher Scientific were worth $62,719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. HighTower Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 8.0% in the 2nd quarter. HighTower Advisors LLC now owns 61,538 shares of the medical research company’s stock worth $18,056,000 after purchasing an additional 4,554 shares during the period. Ardsley Advisory Partners LP bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $1,321,000. Miles Capital Inc. raised its holdings in shares of Thermo Fisher Scientific by 105.9% in the 2nd quarter. Miles Capital Inc. now owns 3,278 shares of the medical research company’s stock worth $963,000 after purchasing an additional 1,686 shares during the period. Pinebridge Investments L.P. raised its holdings in shares of Thermo Fisher Scientific by 686.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 6,525 shares of the medical research company’s stock worth $1,916,000 after purchasing an additional 5,695 shares during the period. Finally, Bank of Nova Scotia raised its holdings in shares of Thermo Fisher Scientific by 2.6% in the 2nd quarter. Bank of Nova Scotia now owns 105,761 shares of the medical research company’s stock worth $28,118,000 after purchasing an additional 2,631 shares during the period. Hedge funds and other institutional investors own 88.19% of the company’s stock.

TMO stock traded up $2.68 during midday trading on Friday, reaching $297.65. 1,050,015 shares of the company’s stock traded hands, compared to its average volume of 1,374,246. The company has a 50-day moving average price of $281.12 and a two-hundred day moving average price of $276.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. Thermo Fisher Scientific Inc. has a 52 week low of $208.34 and a 52 week high of $305.45. The firm has a market capitalization of $118.12 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The business had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 6.83%.

In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 1,833 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 approximately $7,803,614.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the sale, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target on the stock in a report on Wednesday, June 12th. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. BTIG Research lifted their price target on shares of Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC lifted their price target on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $303.17.

About Thermo Fisher Scientific

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

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