Cullen Capital Management LLC Has $691,000 Position in Thermo Fisher Scientific Inc (NYSE:TMO)

Cullen Capital Management LLC maintained its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) during the first quarter, Holdings Channel reports. The institutional investor owned 4,500 shares of the medical research company’s stock at the end of the first quarter. Cullen Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $691,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TMO. CENTRAL TRUST Co raised its stake in shares of Thermo Fisher Scientific by 7.5% in the first quarter. CENTRAL TRUST Co now owns 30,174 shares of the medical research company’s stock valued at $4,635,000 after buying an additional 2,100 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in shares of Thermo Fisher Scientific by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 15,287 shares of the medical research company’s stock valued at $2,348,000 after buying an additional 50 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Thermo Fisher Scientific by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 338,114 shares of the medical research company’s stock valued at $51,935,000 after buying an additional 5,944 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of Thermo Fisher Scientific by 42.8% in the first quarter. Bridges Investment Management Inc. now owns 15,355 shares of the medical research company’s stock valued at $2,359,000 after buying an additional 4,600 shares during the last quarter. Finally, Moreno Evelyn V raised its stake in shares of Thermo Fisher Scientific by 11.8% in the first quarter. Moreno Evelyn V now owns 1,652 shares of the medical research company’s stock valued at $254,000 after buying an additional 175 shares during the last quarter. Institutional investors own 87.05% of the company’s stock.

Thermo Fisher Scientific Inc (TMO) opened at 175.27 on Friday. The stock has a market capitalization of $68.57 billion, a price-to-earnings ratio of 31.97 and a beta of 1.06. The firm has a 50-day moving average of $176.77 and a 200-day moving average of $163.26. Thermo Fisher Scientific Inc has a 12-month low of $139.07 and a 12-month high of $182.87.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.73% and a net margin of 11.58%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.03 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio is 10.95%.

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Several brokerages have commented on TMO. Bank of America Corporation restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a research report on Friday, July 21st. Barclays PLC restated an “overweight” rating and set a $200.00 target price (up from $190.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 17th. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research report on Thursday, July 20th. Wells Fargo & Company restated an “outperform” rating and set a $200.00 target price (up from $195.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 13th. Finally, Citigroup Inc. restated a “buy” rating and set a $201.00 target price (up from $182.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 10th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $187.88.

In other news, CEO Marc N. Casper sold 20,000 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the completion of the sale, the chief executive officer now directly owns 269,279 shares in the company, valued at approximately $46,528,718.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel P. Shine sold 4,688 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $171.88, for a total value of $805,773.44. Following the sale, the insider now owns 29,200 shares of the company’s stock, valued at $5,018,896. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,188 shares of company stock valued at $4,702,223. 0.49% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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