Security National Bank Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Security National Bank lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,825 shares of the medical research company’s stock after selling 83 shares during the quarter. Thermo Fisher Scientific makes up 0.9% of Security National Bank’s portfolio, making the stock its 26th biggest position. Security National Bank’s holdings in Thermo Fisher Scientific were worth $4,889,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $25,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $29,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. Noble Wealth Management PBC bought a new position in Thermo Fisher Scientific in the fourth quarter worth about $35,000. Finally, Cassady Schiller Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.5%

NYSE:TMO opened at $410.45 on Thursday. The firm has a market capitalization of $154.94 billion, a P/E ratio of 24.07, a PEG ratio of 2.13 and a beta of 0.78. The company’s fifty day moving average price is $410.39 and its 200-day moving average price is $485.33. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same period last year, the firm earned $5.11 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. Thermo Fisher Scientific’s payout ratio is 10.09%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TMO. Citigroup reduced their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Scotiabank reduced their price target on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a research report on Friday, April 25th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI dropped their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $604.05.

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.