Avalon Trust Co Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Avalon Trust Co boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,206 shares of the medical research company’s stock after buying an additional 422 shares during the quarter. Thermo Fisher Scientific makes up about 1.5% of Avalon Trust Co’s holdings, making the stock its 18th biggest position. Avalon Trust Co’s holdings in Thermo Fisher Scientific were worth $18,513,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. L & S Advisors Inc lifted its stake in Thermo Fisher Scientific by 11.4% in the 1st quarter. L & S Advisors Inc now owns 2,831 shares of the medical research company’s stock valued at $1,409,000 after buying an additional 289 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Thermo Fisher Scientific by 1.4% in the 1st quarter. Manchester Capital Management LLC now owns 2,267 shares of the medical research company’s stock valued at $1,128,000 after buying an additional 32 shares in the last quarter. CCLA Investment Management lifted its stake in Thermo Fisher Scientific by 3.3% in the 1st quarter. CCLA Investment Management now owns 267,186 shares of the medical research company’s stock valued at $132,973,000 after buying an additional 8,615 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Thermo Fisher Scientific by 37.7% during the 1st quarter. Scotia Capital Inc. now owns 87,540 shares of the medical research company’s stock worth $43,560,000 after purchasing an additional 23,955 shares during the period. Finally, Bank of Nova Scotia Trust Co. lifted its stake in shares of Thermo Fisher Scientific by 26.2% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,182 shares of the medical research company’s stock worth $1,583,000 after purchasing an additional 661 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TMO. HSBC reissued a “hold” rating and set a $510.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Barclays increased their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Finally, Scotiabank upgraded Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 price objective for the company in a report on Friday, July 11th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $593.00.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president directly owned 22,367 shares of the company’s stock, valued at $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Down 1.1%

Shares of NYSE TMO opened at $462.74 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $420.88 and a 200 day moving average price of $467.07. The company has a market cap of $174.68 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.47 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. The company had revenue of $10.86 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.37 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.95%.

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.