Itau Unibanco Holding S.A. Buys Shares of 120 Thermo Fisher Scientific Inc. (NYSE:TMO)

Itau Unibanco Holding S.A. acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 120 shares of the medical research company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC grew its stake in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at about $31,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of NYSE TMO opened at $613.69 on Monday. The firm has a market capitalization of $234.26 billion, a PE ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $599.56 and a two-hundred day moving average price of $581.38.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for 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 revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.15 EPS. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Transactions at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $647.78.

About Thermo Fisher Scientific

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.