First Hawaiian Bank Sells 2,275 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

First Hawaiian Bank decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 48.9% in the 2nd quarter, Holdings Channel reports. The firm owned 2,382 shares of the medical research company’s stock after selling 2,275 shares during the quarter. First Hawaiian Bank’s holdings in Thermo Fisher Scientific were worth $1,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TMO. Northwest Financial Advisors acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth about $29,000. True Wealth Design LLC increased its position in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. Headlands Technologies LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,084 shares of company stock worth $19,767,092. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TMO. Royal Bank of Canada lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Barclays cut their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Robert W. Baird upped their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $618.94.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $14.04 during trading on Tuesday, hitting $612.07. The stock had a trading volume of 707,584 shares, compared to its average volume of 1,563,527. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $565.80 and its two-hundred day moving average is $568.84. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $622.30. The stock has a market cap of $233.64 billion, a price-to-earnings ratio of 39.08, a price-to-earnings-growth ratio of 2.87 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $5.15 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.