Argent Trust Co Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Argent Trust Co lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,552 shares of the medical research company’s stock after buying an additional 551 shares during the quarter. Argent Trust Co’s holdings in Thermo Fisher Scientific were worth $12,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Beaumont Financial Advisors LLC raised its holdings in Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after buying an additional 17 shares during the last quarter. Cedar Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 17 shares in the last quarter. Lafayette Investments Inc. lifted its position in Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after acquiring an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 0.6 %

TMO stock opened at $610.26 on Wednesday. The firm has a market cap of $232.95 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The firm has a fifty day moving average price of $595.23 and a 200 day moving average price of $580.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

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 analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.15 EPS. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the sale, the senior vice president now owns 13,083 shares in the company, valued at $7,860,920.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus increased their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Raymond James raised their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday. TD Cowen boosted their price target 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. Finally, Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $632.89.

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.