Westpac Banking Corp Has $1.53 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Westpac Banking Corp lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 75.3% during the first quarter, HoldingsChannel.com reports. The fund owned 3,115 shares of the medical research company’s stock after selling 9,502 shares during the period. Westpac Banking Corp’s holdings in Thermo Fisher Scientific were worth $1,531,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. High Note Wealth LLC grew its holdings 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 valued at $27,000 after purchasing an additional 29 shares during the last quarter. Swiss RE Ltd. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Beacon Financial Strategies CORP bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Olistico Wealth LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Finally, Legacy Wealth Managment LLC ID lifted its stake in shares of Thermo Fisher Scientific by 78.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 22 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, COO Gianluca Pettiti sold 400 shares of the business’s stock in a transaction on 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 owned 25,051 shares in the company, valued at $11,590,095.66. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $526.19 on Thursday. The business has a 50-day moving average of $488.92 and a 200-day moving average of $513.21. 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 company has a market capitalization of $195.54 billion, a price-to-earnings 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 1 year low of $435.27 and a 1 year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.19. The firm had revenue of $11.01 billion during 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%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.15 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 24.84 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Analyst Ratings Changes

TMO has been the topic of a number of research reports. DZ Bank assumed coverage on Thermo Fisher Scientific in a research report on Friday, March 27th. They set a “buy” rating and a $610.00 price objective on the stock. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Sanford C. Bernstein started coverage on Thermo Fisher Scientific in a report on Friday, June 26th. They set a “market perform” rating and a $520.00 price target on the stock. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $602.14.

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.