Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Somerset Trust Co

Somerset Trust Co increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 18.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 488 shares of the medical research company’s stock after purchasing an additional 75 shares during the quarter. Somerset Trust Co’s holdings in Thermo Fisher Scientific were worth $284,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC increased its stake in Thermo Fisher Scientific by 6.9% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock worth $156,000 after purchasing an additional 19 shares during the period. Rosenberg Matthew Hamilton increased its stake in Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock worth $279,000 after purchasing an additional 19 shares during the period. Tsfg LLC increased its stake in Thermo Fisher Scientific by 8.3% during the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after purchasing an additional 19 shares during the period. Pacifica Partners Inc. increased its stake in Thermo Fisher Scientific by 16.5% during the fourth quarter. Pacifica Partners Inc. now owns 141 shares of the medical research company’s stock worth $69,000 after purchasing an additional 20 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in Thermo Fisher Scientific by 1.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,069 shares of the medical research company’s stock worth $591,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock valued at $12,532,780 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Evercore ISI upped their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.94.

View Our Latest Analysis on TMO

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded up $1.17 during trading hours on Wednesday, hitting $569.17. The stock had a trading volume of 1,398,080 shares, compared to its average volume of 1,248,825. The firm has a market capitalization of $217.26 billion, a PE ratio of 36.51, a PEG ratio of 2.65 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82. The stock’s 50 day moving average is $574.54 and its 200 day moving average is $559.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

About Thermo Fisher Scientific

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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