1ST Source Bank Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

1ST Source Bank lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,742 shares of the medical research company’s stock after selling 52 shares during the period. Thermo Fisher Scientific accounts for approximately 0.5% of 1ST Source Bank’s investment portfolio, making the stock its 27th biggest holding. 1ST Source Bank’s holdings in Thermo Fisher Scientific were worth $9,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SYM FINANCIAL Corp lifted its holdings in shares of Thermo Fisher Scientific by 14.0% in the 2nd quarter. SYM FINANCIAL Corp now owns 710 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 87 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Thermo Fisher Scientific by 50.4% during the second quarter. GHP Investment Advisors Inc. now owns 5,146 shares of the medical research company’s stock worth $2,846,000 after purchasing an additional 1,724 shares during the last quarter. TradeLink Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $608,000. Meeder Advisory Services Inc. increased its stake in shares of Thermo Fisher Scientific by 37.1% during the second quarter. Meeder Advisory Services Inc. now owns 7,410 shares of the medical research company’s stock worth $4,098,000 after acquiring an additional 2,005 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Thermo Fisher Scientific by 6.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 819,893 shares of the medical research company’s stock worth $450,892,000 after purchasing an additional 52,675 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.4 %

Shares of TMO stock opened at $611.17 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The firm’s 50-day simple moving average is $592.10 and its 200-day simple moving average is $580.06. The firm has a market cap of $233.47 billion, a P/E ratio of 39.20, a PEG ratio of 2.88 and a beta of 0.78. 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 (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. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the company earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Analysts Set New Price Targets

Several research analysts have issued reports on TMO shares. Evercore ISI cut their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen raised their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $630.41.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.