Washington Trust Bank grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,057 shares of the medical research company’s stock after buying an additional 725 shares during the quarter. Thermo Fisher Scientific comprises 1.0% of Washington Trust Bank’s holdings, making the stock its 25th biggest position. Washington Trust Bank’s holdings in Thermo Fisher Scientific were worth $7,262,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Cibc Bank USA acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $884,000. Neville Rodie & Shaw Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $23,318,000. Brown Advisory Inc. grew its stake in shares of Thermo Fisher Scientific by 2.4% in the 1st quarter. Brown Advisory Inc. now owns 2,144,864 shares of the medical research company’s stock worth $442,830,000 after purchasing an additional 49,320 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $2,436,000. Finally, Menora Mivtachim Holdings LTD. grew its stake in shares of Thermo Fisher Scientific by 49.5% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 181,305 shares of the medical research company’s stock worth $37,432,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors own 85.76% of the company’s stock.
In related news, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $217.71, for a total transaction of $10,885,500.00. Following the transaction, the chief executive officer now directly owns 272,122 shares of the company’s stock, valued at $59,243,680.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Martin Harris sold 206 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $214.43, for a total transaction of $44,172.58. Following the transaction, the director now directly owns 5,106 shares in the company, valued at $1,094,879.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,706 shares of company stock worth $21,125,673. 0.49% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on TMO. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Monday, March 26th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $216.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. Finally, ValuEngine cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $224.38.
Shares of Thermo Fisher Scientific stock traded up $0.49 during trading on Tuesday, hitting $206.06. The stock had a trading volume of 18,025 shares, compared to its average volume of 1,344,877. The company has a market cap of $83.34 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 0.95. Thermo Fisher Scientific Inc. has a 1 year low of $170.07 and a 1 year high of $226.44.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 25th. The medical research company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.08. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.62 billion. Thermo Fisher Scientific had a net margin of 10.24% and a return on equity of 16.09%. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. analysts expect that Thermo Fisher Scientific Inc. will post 10.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 15th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.17%.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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