PNC Financial Services Group Inc. Sells 4,604 Shares of 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, Holdings Channel reports. The firm owned 243,798 shares of the medical research company’s stock after selling 4,604 shares during the period. PNC Financial Services Group Inc.’s holdings in Thermo Fisher Scientific were worth $119,834,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

TMO has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $675.00 to $615.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada set a $490.00 price objective on Thermo Fisher Scientific and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded Thermo Fisher Scientific from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein started coverage on shares of Thermo Fisher Scientific in a report on Friday, June 26th. They issued a “market perform” rating and a $520.00 target price for the company. Finally, Jefferies Financial Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific 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 firm has a 50 day moving average price of $488.92 and a two-hundred day moving average price of $513.21. The stock has a market cap of $195.54 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87. Thermo Fisher Scientific Inc. has a 52-week low of $435.27 and a 52-week high of $643.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.15 and a current ratio of 1.53.

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

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.34%.

Insider Activity at Thermo Fisher Scientific

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

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.