Huntington National Bank Sells 50,101 Shares of Thermo Fisher Scientific Inc. $TMO

Huntington National Bank lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 38.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,398 shares of the medical research company’s stock after selling 50,101 shares during the period. Huntington National Bank’s holdings in Thermo Fisher Scientific were worth $38,994,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the period. Cloud Capital Management LLC acquired a new position in Thermo Fisher Scientific during the third quarter worth $31,000. Capital A Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Elevation Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Finally, Howard Hughes Medical Institute bought a new stake in Thermo Fisher Scientific during the second quarter worth about $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This represents a 20.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. The trade was a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 98,271 shares of company stock valued at $56,920,935 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $520.80 on Friday. The stock’s 50-day moving average price is $574.24 and its two-hundred day moving average price is $547.46. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The stock has a market cap of $195.67 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm earned $6.10 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Analyst Ratings Changes

TMO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research report on Sunday, December 7th. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price for the company. Finally, UBS Group reissued a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $633.68.

About Thermo Fisher Scientific

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.