Pinnacle Financial Partners Inc Purchases 51 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pinnacle Financial Partners Inc raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% during the third quarter, Holdings Channel.com reports. The fund owned 56,939 shares of the medical research company’s stock after purchasing an additional 51 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.7% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 26th largest position. Pinnacle Financial Partners Inc’s holdings in Thermo Fisher Scientific were worth $35,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $32,000. TBH Global Asset Management LLC boosted its holdings in Thermo Fisher Scientific by 7.0% in the first quarter. TBH Global Asset Management LLC now owns 671 shares of the medical research company’s stock valued at $390,000 after acquiring an additional 44 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Thermo Fisher Scientific by 6.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 18,132 shares of the medical research company’s stock valued at $10,539,000 after purchasing an additional 1,128 shares during the period. Maple Capital Management Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth about $395,000. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after purchasing an additional 1,480 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,150 shares of company stock worth $20,651,865. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.2 %

TMO opened at $540.63 on Wednesday. The stock has a market capitalization of $206.79 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.61 and a beta of 0.79. The firm has a 50 day moving average price of $591.27 and a 200-day moving average price of $583.32. Thermo Fisher Scientific Inc. has a twelve month low of $439.11 and a twelve month high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.69 earnings per share. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Analyst Ratings Changes

Several analysts have commented on TMO shares. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Bernstein Bank upped their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

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.