SVB Wealth LLC Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

SVB Wealth LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,441 shares of the medical research company’s stock after selling 239 shares during the period. SVB Wealth LLC’s holdings in Thermo Fisher Scientific were worth $4,906,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $2,909,524,000. Capital World Investors grew its position in shares of 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 purchasing an additional 1,231,059 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares in the last quarter. Veritas Asset Management LLP grew its position in shares of Thermo Fisher Scientific by 70.1% in the fourth 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 in the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $333,786,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of NYSE TMO traded down $3.02 during mid-day trading on Monday, hitting $604.12. The company had a trading volume of 1,228,281 shares, compared to its average volume of 1,564,947. The company has a market capitalization of $230.60 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $614.65. The business’s 50-day simple moving average is $563.01 and its 200 day simple moving average is $565.97.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $5.15 earnings per share. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on TMO. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Barclays decreased their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $618.94.

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.