Bank & Trust Co Invests $33,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 59 shares of the medical research company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $2,909,524,000. Capital World Investors lifted its holdings in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the period. Swedbank AB acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth about $705,636,000. Veritas Asset Management LLP lifted its stake in shares of Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Finally, Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $333,786,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded up $4.00 during trading on Tuesday, hitting $602.03. The company’s stock had a trading volume of 1,316,851 shares, compared to its average volume of 1,567,578. The business has a fifty day moving average of $565.80 and a 200-day moving average of $568.84. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $622.30. The company has a market cap of $229.80 billion, a PE ratio of 39.08, a P/E/G ratio of 2.87 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the business posted $5.15 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Analyst Ratings Changes

A number of research firms have issued reports on TMO. Jefferies Financial Group restated a “buy” rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. TD Cowen upped their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, HSBC boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $618.94.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,084 shares of company stock valued at $19,767,092. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, 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, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.