Watch Point Trust Co Purchases 2,531 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Watch Point Trust Co raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 34.9% in the 2nd quarter, Holdings Channel reports. The firm owned 9,784 shares of the medical research company’s stock after buying an additional 2,531 shares during the quarter. Watch Point Trust Co’s holdings in Thermo Fisher Scientific were worth $2,873,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TMO. Truvestments Capital LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $29,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Thermo Fisher Scientific by 250.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the medical research company’s stock worth $41,000 after acquiring an additional 100 shares during the last quarter. Focused Wealth Management Inc bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $44,000. Cullen Frost Bankers Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $64,000. Finally, Bay Harbor Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 183.8% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 227 shares of the medical research company’s stock worth $67,000 after acquiring an additional 147 shares during the last quarter. 88.21% of the stock is owned by hedge funds and other institutional investors.

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total value of $670,725.00. Following the completion of the sale, the chief financial officer now directly owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the completion of the sale, the chief executive officer now directly owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders sold 52,775 shares of company stock valued at $14,986,676 over the last three months. 0.45% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on TMO shares. Barclays set a $330.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. Wolfe Research started coverage on shares of Thermo Fisher Scientific in a report on Thursday, May 30th. They set an “outperform” rating for the company. BTIG Research lifted their price objective on shares of Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price objective for the company in a report on Wednesday, June 12th. Finally, Needham & Company LLC lifted their price objective on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $303.17.

Thermo Fisher Scientific stock traded up $3.86 during mid-day trading on Thursday, hitting $273.34. The company’s stock had a trading volume of 42,901 shares, compared to its average volume of 1,592,969. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market cap of $108.93 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. The business has a 50 day moving average of $287.70. Thermo Fisher Scientific Inc. has a 12 month low of $208.34 and a 12 month high of $305.45.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.03. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.31 billion. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

Further Reading: Futures Contract

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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