First Hawaiian Bank Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Hawaiian Bank lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 48.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,382 shares of the medical research company’s stock after selling 2,275 shares during the period. First Hawaiian Bank’s holdings in Thermo Fisher Scientific were worth $1,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $2,909,524,000. Capital World Investors raised its stake in shares of Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $705,636,000. Veritas Asset Management LLP increased its holdings in shares of Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after acquiring an additional 697,383 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $333,786,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. HSBC raised their price target on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Raymond James increased their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $618.94.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,084 shares of company stock valued at $19,767,092. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.3 %

Shares of NYSE:TMO traded up $14.04 during midday trading on Tuesday, reaching $612.07. The company had a trading volume of 707,584 shares, compared to its average volume of 1,563,527. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $622.30. The company has a fifty day simple moving average of $565.80 and a two-hundred day simple moving average of $568.84. The firm 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. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $5.15 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific 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.