Westpac Banking Corp Sells 9,502 Shares of Thermo Fisher Scientific Inc. $TMO

Westpac Banking Corp cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 75.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,115 shares of the medical research company’s stock after selling 9,502 shares during the quarter. Westpac Banking Corp’s holdings in Thermo Fisher Scientific were worth $1,531,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. High Note Wealth LLC lifted its stake in shares of Thermo Fisher Scientific by 170.6% during the 4th quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock worth $27,000 after buying an additional 29 shares during the last quarter. Swiss RE Ltd. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Beacon Financial Strategies CORP bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Olistico Wealth LLC acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of Thermo Fisher Scientific by 78.6% during the first quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock worth $25,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of the firm’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 of the company’s stock, valued at $11,590,095.66. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TMO shares. Wolfe Research started coverage on Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $535.00 target price on the stock. Jefferies Financial Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Friday, April 24th. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. HSBC cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and reduced their target price for the company from $670.00 to $540.00 in a research report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $602.14.

Thermo Fisher Scientific Trading Up 0.5%

Shares of NYSE:TMO opened at $526.19 on Thursday. The company has a market capitalization of $195.54 billion, a P/E ratio of 28.93, a P/E/G ratio of 2.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.53 and a quick ratio of 1.15. The business’s 50 day simple moving average is $488.92 and its 200 day simple moving average is $513.21. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same period in the prior year, the company posted $5.15 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 24.84 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

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.