Texas Capital Bank Wealth Management Services Inc Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Texas Capital Bank Wealth Management Services Inc decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 774 shares of the medical research company’s stock after selling 44 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Thermo Fisher Scientific were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Accretive Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 8.1% in the 4th quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 48 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 9.7% during the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after buying an additional 72 shares during the last quarter. Gryphon Financial Partners LLC increased its position in Thermo Fisher Scientific by 8.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock worth $794,000 after purchasing an additional 116 shares in the last quarter. Gold Investment Management Ltd. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $124,000. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of Thermo Fisher Scientific by 11.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,145 shares of the medical research company’s stock worth $2,200,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Raymond James increased their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird increased their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TD Cowen lifted their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Finally, Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $647.78.

Thermo Fisher Scientific Stock Down 0.8 %

TMO stock opened at $614.42 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a fifty day simple moving average of $606.08 and a 200 day simple moving average of $582.06. The firm has a market cap of $234.71 billion, a PE ratio of 39.41, a PEG ratio of 3.88 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

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 return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the company earned $5.15 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction dated 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 owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. 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.