Cullen Frost Bankers Inc. Acquires 2,769 Shares of Thermo Fisher Scientific Inc. $TMO

Cullen Frost Bankers Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,558 shares of the medical research company’s stock after purchasing an additional 2,769 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Thermo Fisher Scientific were worth $17,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its holdings in Thermo Fisher Scientific by 33.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 55,663 shares of the medical research company’s stock valued at $26,998,000 after acquiring an additional 13,904 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Thermo Fisher Scientific by 28.6% in the third quarter. Whittier Trust Co. now owns 119,518 shares of the medical research company’s stock worth $57,969,000 after purchasing an additional 26,584 shares during the last quarter. Quilter Plc boosted its stake in Thermo Fisher Scientific by 1.0% during the third quarter. Quilter Plc now owns 278,786 shares of the medical research company’s stock valued at $135,217,000 after buying an additional 2,675 shares during the last quarter. Frazier Financial Advisors LLC grew its holdings in Thermo Fisher Scientific by 30.5% during the 3rd quarter. Frazier Financial Advisors LLC now owns 107 shares of the medical research company’s stock valued at $52,000 after buying an additional 25 shares in the last quarter. Finally, Sagespring Wealth Partners LLC increased its stake in Thermo Fisher Scientific by 50.6% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 3,709 shares of the medical research company’s stock worth $1,799,000 after acquiring an additional 1,246 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 2.2%

TMO opened at $625.42 on Friday. The stock’s 50 day moving average price is $590.88 and its 200-day moving average price is $531.60. The stock has a market cap of $234.98 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.28 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $625.47.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 7,250 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $64,400,668.20. The trade was a 5.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares in the company, valued at $8,586,868.56. The trade was a 32.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 131,767 shares of company stock valued at $76,467,793. 0.33% of the stock is owned by corporate insiders.

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.