MidWestOne Financial Group Inc. Acquires 23 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

MidWestOne Financial Group Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,631 shares of the medical research company’s stock after acquiring an additional 23 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Thermo Fisher Scientific were worth $2,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kathmere Capital Management LLC bought a new stake in Thermo Fisher Scientific in the second quarter valued at about $375,000. Goodman Advisory Group LLC increased its stake in Thermo Fisher Scientific by 40.9% in the second quarter. Goodman Advisory Group LLC now owns 465 shares of the medical research company’s stock valued at $257,000 after acquiring an additional 135 shares during the period. Sepio Capital LP increased its stake in Thermo Fisher Scientific by 7.6% in the second quarter. Sepio Capital LP now owns 3,980 shares of the medical research company’s stock valued at $2,201,000 after acquiring an additional 282 shares during the period. Security National Bank of SO Dak grew its stake in Thermo Fisher Scientific by 4.2% during the second quarter. Security National Bank of SO Dak now owns 8,698 shares of the medical research company’s stock worth $4,810,000 after buying an additional 349 shares during the last quarter. Finally, Scientech Research LLC grew its stake in Thermo Fisher Scientific by 24.2% during the second quarter. Scientech Research LLC now owns 2,724 shares of the medical research company’s stock worth $1,506,000 after buying an additional 531 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Finally, Barclays dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $647.78.

Insider Activity

In other news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $614.42 on Friday. The stock has a 50-day moving average of $606.08 and a 200-day moving average of $582.06. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The stock has a market cap of $234.71 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 3.88 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 posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the business posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

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.