PNC Financial Services Group Inc. Has $119.83 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

PNC Financial Services Group Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 243,798 shares of the medical research company’s stock after selling 4,604 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of Thermo Fisher Scientific worth $119,834,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TMO. Brighton Jones LLC raised its position in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $170,000. Raymond James Financial Inc. raised its holdings in shares of Thermo Fisher Scientific by 7.4% in the 2nd quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company’s stock valued at $315,781,000 after purchasing an additional 53,542 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Thermo Fisher Scientific by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company’s stock valued at $244,099,000 after purchasing an additional 2,262 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $462.66, for a total value of $185,064.00. Following the transaction, the chief operating officer directly owned 25,051 shares in the company, valued at approximately $11,590,095.66. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. HSBC cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating and cut their price objective for the company from $670.00 to $540.00 in a research report on Wednesday, June 3rd. KeyCorp reissued an “overweight” rating on shares of Thermo Fisher Scientific in a report on Tuesday, May 26th. Barclays cut their price target on Thermo Fisher Scientific from $650.00 to $625.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $602.14.

Thermo Fisher Scientific Trading Up 0.5%

Shares of NYSE:TMO opened at $526.19 on Thursday. The stock has a market cap of $195.54 billion, a PE ratio of 28.93, a P/E/G ratio of 2.32 and a beta of 0.87. The company has a quick ratio of 1.15, a current ratio of 1.53 and a debt-to-equity ratio of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $643.99. The business has a 50 day moving average of $488.92 and a 200-day moving average of $513.21.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.19. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 15.15%.The business had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $10.86 billion. During the same period last year, the firm posted $5.15 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 24.84 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.34%.

Thermo Fisher Scientific 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.