Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 840,110 shares of the medical research company’s stock after buying an additional 98,855 shares during the quarter. Bank of Montreal Can’s holdings in Thermo Fisher Scientific were worth $468,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC increased its holdings in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Monday. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The firm has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. The stock’s fifty day moving average is $599.56 and its two-hundred day moving average is $581.38. 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 (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the company earned $5.15 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was 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 directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

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.