First Midwest Bank Trust Division Cuts Position in Thermo Fisher Scientific Inc (TMO)

First Midwest Bank Trust Division cut its position in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 14,189 shares of the medical research company’s stock after selling 987 shares during the period. First Midwest Bank Trust Division’s holdings in Thermo Fisher Scientific were worth $2,475,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TMO. BB&T Securities LLC boosted its stake in shares of Thermo Fisher Scientific by 4.4% in the first quarter. BB&T Securities LLC now owns 89,837 shares of the medical research company’s stock worth $13,798,000 after buying an additional 3,819 shares during the period. Toronto Dominion Bank boosted its stake in shares of Thermo Fisher Scientific by 53.5% in the first quarter. Toronto Dominion Bank now owns 107,099 shares of the medical research company’s stock worth $16,450,000 after buying an additional 37,307 shares during the period. Tompkins Financial Corp boosted its stake in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Tompkins Financial Corp now owns 5,183 shares of the medical research company’s stock worth $733,000 after buying an additional 40 shares during the period. Huntington National Bank boosted its stake in shares of Thermo Fisher Scientific by 6.9% in the first quarter. Huntington National Bank now owns 186,907 shares of the medical research company’s stock worth $28,708,000 after buying an additional 12,025 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Thermo Fisher Scientific by 1.1% in the first quarter. Advisors Asset Management Inc. now owns 66,308 shares of the medical research company’s stock worth $10,185,000 after buying an additional 735 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Inc (TMO) traded up 0.458% on Friday, reaching $173.681. The company’s stock had a trading volume of 785,841 shares. The company’s 50 day moving average price is $176.75 and its 200-day moving average price is $166.35. Thermo Fisher Scientific Inc has a 12-month low of $139.07 and a 12-month high of $182.87. The stock has a market cap of $67.76 billion, a PE ratio of 30.258 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the business posted $2.03 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc will post $9.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio is 10.45%.

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A number of equities research analysts have commented on TMO shares. Cantor Fitzgerald started coverage on Thermo Fisher Scientific in a research note on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price objective for the company. Barclays PLC set a $175.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 26th. Cowen and Company reissued an “outperform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Thermo Fisher Scientific in a research note on Saturday, April 29th. Citigroup Inc. reissued a “buy” rating and issued a $201.00 price objective (up previously from $182.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 10th. Finally, BidaskClub raised Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and an average target price of $188.56.

In other Thermo Fisher Scientific news, insider Daniel P. Shine sold 4,688 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the sale, the insider now directly owns 29,200 shares in the company, valued at approximately $5,018,896. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total value of $3,455,800.00. Following the sale, the chief executive officer now owns 269,279 shares in the company, valued at $46,528,718.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,188 shares of company stock worth $4,702,223. Company insiders own 0.49% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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