Bremer Bank National Association Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bremer Bank National Association cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,656 shares of the medical research company’s stock after selling 44 shares during the period. Bremer Bank National Association’s holdings in Thermo Fisher Scientific were worth $1,469,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. True Wealth Design LLC boosted its position in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific during the 1st quarter worth $31,000. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific in the first quarter valued at about $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,084 shares of company stock valued at $19,767,092. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group reissued a “buy” rating and set a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $618.94.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $2.23 on Wednesday, reaching $601.98. 1,128,139 shares of the stock traded hands, compared to its average volume of 1,552,292. The firm’s fifty day simple moving average is $569.40 and its 200 day simple moving average is $571.01. The company has a market cap of $229.96 billion, a price-to-earnings ratio of 38.41, a P/E/G ratio of 2.77 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating 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 firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.15 earnings per share. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

About Thermo Fisher Scientific

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.