Pinnacle Financial Partners Inc. Sells 96 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)


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Pinnacle Financial Partners Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,998 shares of the medical research company’s stock after selling 96 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Thermo Fisher Scientific were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Thermo Fisher Scientific by 3.8% during the 2nd quarter. Principal Financial Group Inc. now owns 829,798 shares of the medical research company’s stock valued at $300,668,000 after purchasing an additional 30,433 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Thermo Fisher Scientific by 2.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 262,741 shares of the medical research company’s stock valued at $95,202,000 after purchasing an additional 5,543 shares during the last quarter. FMR LLC increased its position in shares of Thermo Fisher Scientific by 3.3% during the 2nd quarter. FMR LLC now owns 11,621,011 shares of the medical research company’s stock valued at $4,210,756,000 after purchasing an additional 376,531 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Thermo Fisher Scientific by 24.7% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 1,551 shares of the medical research company’s stock valued at $562,000 after purchasing an additional 307 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Thermo Fisher Scientific by 5.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,748 shares of the medical research company’s stock valued at $996,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Several brokerages have recently commented on TMO. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $485.00 to $535.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. BTIG Research increased their price objective on Thermo Fisher Scientific from $475.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Zacks Investment Research lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $488.00 price target on the stock. in a research report on Tuesday, December 22nd. Credit Suisse Group raised their price target on Thermo Fisher Scientific from $556.00 to $580.00 in a research report on Tuesday. Finally, Smith Barney Citigroup lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 16th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has a consensus rating of “Buy” and a consensus target price of $492.58.

NYSE TMO opened at $501.71 on Thursday. Thermo Fisher Scientific Inc. has a fifty-two week low of $250.21 and a fifty-two week high of $532.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.02 and a current ratio of 2.62. The stock has a 50 day simple moving average of $471.80 and a two-hundred day simple moving average of $442.37. The stock has a market cap of $198.85 billion, a P/E ratio of 54.30, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 21st. The medical research company reported $5.63 earnings per share for the quarter, topping the consensus estimate of $4.37 by $1.26. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The business had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $7.68 billion. During the same quarter last year, the business posted $2.94 EPS. The business’s revenue was up 31.6% on a year-over-year basis. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 15.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Monday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.13%.

Thermo Fisher Scientific declared that its board has approved a share buyback plan on Thursday, November 5th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the medical research company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, COO Mark Stevenson sold 14,133 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $473.84, for a total value of $6,696,780.72. Following the completion of the transaction, the chief operating officer now owns 58,005 shares in the company, valued at approximately $27,485,089.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $479.94, for a total value of $4,799,400.00. Following the completion of the transaction, the chief executive officer now owns 228,694 shares of the company’s stock, valued at approximately $109,759,398.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,246 shares of company stock valued at $18,220,461. 0.44% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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