PNC Financial Services Group Inc. Purchases 129,483 Shares of Thermo Fisher Scientific Inc. (TMO)
PNC Financial Services Group Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 982,212 shares of the company’s stock after buying an additional 129,483 shares during the period. PNC Financial Services Group Inc. owned about 0.25% of Thermo Fisher Scientific worth $156,230,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $299,455,000. Emerald Acquisition Ltd. acquired a new stake in Thermo Fisher Scientific during the second quarter valued at $200,618,000. Sound Shore Management Inc. CT raised its stake in Thermo Fisher Scientific by 123.5% in the second quarter. Sound Shore Management Inc. CT now owns 2,204,253 shares of the company’s stock valued at $138,096,000 after buying an additional 1,217,950 shares during the last quarter. Tesco Pension Investment Ltd acquired a new stake in Thermo Fisher Scientific during the third quarter valued at $137,726,000. Finally, FMR LLC raised its stake in Thermo Fisher Scientific by 11.3% in the second quarter. FMR LLC now owns 8,216,645 shares of the company’s stock valued at $1,214,093,000 after buying an additional 834,858 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) opened at 140.32 on Tuesday. The firm has a 50-day moving average of $149.29 and a 200-day moving average of $151.92. Thermo Fisher Scientific Inc. has a one year low of $119.75 and a one year high of $160.68. The firm has a market capitalization of $55.43 billion, a P/E ratio of 28.05 and a beta of 1.24.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, October 27th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. Thermo Fisher Scientific had a return on equity of 14.95% and a net margin of 11.10%. The firm earned $4.49 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post $8.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.60 annualized dividend and a yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is currently 12.00%.
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Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research note on Monday, August 1st. Bank of America Corp. set a $180.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Friday, October 7th. Jefferies Group reiterated a “hold” rating on shares of Thermo Fisher Scientific in a research note on Thursday, August 4th. JPMorgan Chase & Co. assumed coverage on shares of Thermo Fisher Scientific in a research note on Thursday, September 22nd. They set an “overweight” rating and a $180.00 target price for the company. Finally, Leerink Swann assumed coverage on shares of Thermo Fisher Scientific in a research note on Thursday, November 10th. They set an “outperform” rating and a $175.00 target price for the company. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus target price of $164.37.
In other news, CEO Marc N. Casper sold 28,797 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $151.01, for a total value of $4,348,634.97. Following the completion of the sale, the chief executive officer now directly owns 307,444 shares in the company, valued at $46,427,118.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $151.17, for a total value of $4,535,100.00. Following the completion of the sale, the chief executive officer now owns 308,647 shares of the company’s stock, valued at $46,658,166.99. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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