Thermo Fisher Scientific Inc. $TMO Stock Holdings Decreased by Huntington National Bank

Huntington National Bank decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 38.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 80,398 shares of the medical research company’s stock after selling 50,101 shares during the period. Huntington National Bank’s holdings in Thermo Fisher Scientific were worth $38,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in Thermo Fisher Scientific during the second quarter valued at $2,264,615,000. Soundwatch Capital LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $807,713,000. Flossbach Von Storch SE increased its holdings in shares of Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after purchasing an additional 1,314,182 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its position in Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after purchasing an additional 977,127 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. UBS Group reiterated a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective on the stock. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity

In other news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares in the company, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 98,271 shares of company stock valued at $56,920,935. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 0.1%

Shares of TMO stock opened at $520.80 on Friday. The business’s 50 day moving average is $574.24 and its two-hundred day moving average is $547.46. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a market cap of $195.67 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $6.10 EPS. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is 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.