SVB Wealth LLC Sells 1,196 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

SVB Wealth LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,245 shares of the medical research company’s stock after selling 1,196 shares during the quarter. SVB Wealth LLC’s holdings in Thermo Fisher Scientific were worth $4,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the period. Northwest Financial Advisors purchased a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. True Wealth Design LLC increased its position in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC boosted its stake in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was 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 owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Up 0.7 %

Thermo Fisher Scientific stock opened at $611.33 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $622.30. The business has a fifty day moving average of $584.07 and a two-hundred day moving average of $578.20. The firm has a market cap of $233.35 billion, a P/E ratio of 39.21, a P/E/G ratio of 2.85 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.15 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company 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. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analysts Set New Price Targets

Several analysts have issued reports on TMO shares. Royal Bank of Canada raised their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price target on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Raymond James increased their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $630.41.

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.