First Commonwealth Financial Corp PA lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,376 shares of the medical research company’s stock after selling 57 shares during the quarter. Thermo Fisher Scientific comprises about 0.8% of First Commonwealth Financial Corp PA’s holdings, making the stock its 25th largest holding. First Commonwealth Financial Corp PA’s holdings in Thermo Fisher Scientific were worth $1,203,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Hanson McClain Inc. raised its position in shares of Thermo Fisher Scientific by 263.9% in the 4th quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 95 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $35,000. Gradient Investments LLC raised its position in shares of Thermo Fisher Scientific by 1,887.5% during the 4th quarter. Gradient Investments LLC now owns 159 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 151 shares in the last quarter. WESPAC Advisors SoCal LLC raised its position in shares of Thermo Fisher Scientific by 70.0% during the 4th quarter. WESPAC Advisors SoCal LLC now owns 170 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 70 shares in the last quarter. Finally, Doyle Wealth Management acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.
In other news, CAO Peter E. Hornstra sold 5,920 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $250.00, for a total value of $1,480,000.00. Following the completion of the transaction, the chief accounting officer now owns 17,057 shares of the company’s stock, valued at $4,264,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gregory J. Herrema sold 5,400 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $251.51, for a total value of $1,358,154.00. Following the completion of the transaction, the senior vice president now directly owns 31,846 shares of the company’s stock, valued at approximately $8,009,587.46. The disclosure for this sale can be found here. Insiders sold 36,927 shares of company stock worth $9,388,124 over the last ninety days. 0.49% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on TMO shares. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Thursday, December 13th. BTIG Research upped their price target on Thermo Fisher Scientific to $290.00 and gave the company a “buy” rating in a research report on Thursday, January 31st. Needham & Company LLC started coverage on Thermo Fisher Scientific in a research report on Wednesday, January 2nd. They set a “strong-buy” rating and a $271.00 price target on the stock. Barclays upped their price target on Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, Deutsche Bank upped their price target on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $279.73.
Shares of NYSE TMO opened at $263.81 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $199.85 and a 1-year high of $271.70. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $108.15 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.79 and a beta of 1.13.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, January 30th. The medical research company reported $3.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.19 by $0.06. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 12.06%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company earned $2.79 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 12.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Friday, March 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.83%.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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