Pictet Bank Trust Ltd Lowers stake in Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific (TMO) : Pictet Bank Trust Ltd reduced its stake in Thermo Fisher Scientific by 7.64% during the most recent quarter end. The investment management company now holds a total of 49,346 shares of Thermo Fisher Scientific which is valued at $7,672,810 after selling 4,080 shares in Thermo Fisher Scientific , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Thermo Fisher Scientific makes up approximately 2.81% of Pictet Bank Trust Ltd’s portfolio.

Other Hedge Funds, Including , Banque Pictet Cie Sa reduced its stake in TMO by selling 175,099 shares or 22.78% in the most recent quarter. The Hedge Fund company now holds 593,626 shares of TMO which is valued at $92,302,907. Thermo Fisher Scientific makes up approx 2.36% of Banque Pictet Cie Sa’s portfolio.Denver Investment Advisors reduced its stake in TMO by selling 1,007 shares or 6.39% in the most recent quarter. The Hedge Fund company now holds 14,744 shares of TMO which is valued at $2,321,590. Thermo Fisher Scientific makes up approx 0.10% of Denver Investment Advisors’s portfolio.Buffington Mohr Mcneal reduced its stake in TMO by selling 660 shares or 6.89% in the most recent quarter. The Hedge Fund company now holds 8,915 shares of TMO which is valued at $1,404,202. Thermo Fisher Scientific makes up approx 0.61% of Buffington Mohr Mcneal’s portfolio.State Treasurer State Of Michigan reduced its stake in TMO by selling 113,700 shares or 11.96% in the most recent quarter. The Hedge Fund company now holds 836,703 shares of TMO which is valued at $130,525,668. Thermo Fisher Scientific makes up approx 0.99% of State Treasurer State Of Michigan’s portfolio.

Thermo Fisher Scientific opened for trading at $152.88 and hit $153.81 on the upside on Friday, eventually ending the session at $153.58, with a gain of 0.15% or 0.23 points. The heightened volatility saw the trading volume jump to 14,98,018 shares. Company has a market cap of $60,551 M.

On the company’s financial health, Thermo Fisher Scientific reported $2.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $2.01. The company had revenue of $4535.20 million for the quarter, compared to analysts expectations of $4493.28 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS.

Investors should note that on Jul 7, 2016, Thermo Fisher Scientific announced a cash dividend of $0.1500. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Thermo Fisher Scientific. Company shares were Reiterated by Mizuho on May 27, 2016 to “Buy”, Firm has raised the Price Target to $ 170 from a previous price target of $166 .Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 166 from a previous price target of $163 .

Thermo Fisher Scientific Inc. 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 provides reagents instruments and consumables used in biological and medical research discovery and production of new drugs and vaccines as well as diagnosis of disease; Analytical Instruments provides instruments consumables software and services that are used in the laboratory; Specialty Diagnostics offers diagnostic test kits reagents culture media instruments and associated products and Laboratory Products and Services offers self-manufactured and sourced products for the laboratory.

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