Whittier Trust Co. Has $57.97 Million Position in Thermo Fisher Scientific Inc. $TMO
by Scott Moore · The Cerbat GemWhittier Trust Co. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 28.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,518 shares of the medical research company’s stock after acquiring an additional 26,584 shares during the quarter. Whittier Trust Co.’s holdings in Thermo Fisher Scientific were worth $57,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Network Inc. increased its position in shares of Thermo Fisher Scientific by 3.7% during the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares during the period. Bruce G. Allen Investments LLC grew its holdings in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock worth $155,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Finally, Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $580.00 to $660.00 in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $625.47.
View Our Latest Report on Thermo Fisher Scientific
Thermo Fisher Scientific Trading Down 2.2%
NYSE TMO opened at $625.42 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $590.88 and a 200 day simple moving average of $531.60. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The firm has a market capitalization of $234.98 billion, a P/E ratio of 36.13, a PEG ratio of 4.12 and a beta of 0.91.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The firm had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same quarter in the prior year, the business posted $5.28 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president directly owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. This represents a 41.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 131,767 shares of company stock valued at $76,467,793 over the last quarter. Corporate insiders own 0.33% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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