BI Asset Management Fondsmaeglerselskab A S cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 36.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,936 shares of the medical research company's stock after selling 1,681 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Thermo Fisher Scientific were worth $1,489,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TMO. Bornite Capital Management LP increased its position in Thermo Fisher Scientific by 50.0% during the 1st quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company's stock worth $17,719,000 after purchasing an additional 10,000 shares in the last quarter. Fairfield Bush & CO. increased its position in Thermo Fisher Scientific by 1.2% in the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company's stock valued at $1,729,000 after acquiring an additional 36 shares during the period. Loomis Sayles & Co. L P increased its position in Thermo Fisher Scientific by 563.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company's stock valued at $11,721,000 after acquiring an additional 16,853 shares during the period. Covestor Ltd increased its position in Thermo Fisher Scientific by 60.5% in the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company's stock valued at $190,000 after acquiring an additional 121 shares during the period. Finally, Merit Financial Group LLC increased its position in Thermo Fisher Scientific by 3.6% in the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company's stock valued at $395,000 after acquiring an additional 23 shares during the period. 85.92% of the stock is currently owned by institutional investors and hedge funds.
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Thermo Fisher Scientific Stock Down 0.6 %
Shares of NYSE TMO opened at $573.63 on Friday. The firm has a market cap of $224.98 billion, a PE ratio of 32.24, a P/E/G ratio of 2.02 and a beta of 0.83. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $618.35. The company's fifty day simple moving average is $558.46 and its 200 day simple moving average is $548.34. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its earnings results on Wednesday, October 26th. The medical research company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.30. The business had revenue of $10.68 billion for the quarter, compared to analyst estimates of $9.86 billion. Thermo Fisher Scientific had a net
margin of 15.92% and a return on equity of 22.97%. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.04 earnings per share for the current fiscal year.
Thermo Fisher Scientific declared that its board has authorized a stock buyback program on Thursday, November 10th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, January 16th. Investors of record on Thursday, December 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, December 14th. Thermo Fisher Scientific's dividend payout ratio is presently 6.75%.
Insider Buying and Selling
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,200 shares of the company's stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $487.45, for a total transaction of $3,997,090.00. Following the transaction, the chief executive officer now owns 178,005 shares in the company, valued at $86,768,537.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Monday, October 31st. The shares were sold at an average price of $509.97, for a total transaction of $5,099,700.00. Following the transaction, the chief executive officer now owns 178,005 shares in the company, valued at $90,777,209.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 8,200 shares of the company's stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $487.45, for a total transaction of $3,997,090.00. Following the transaction, the chief executive officer now owns 178,005 shares in the company, valued at approximately $86,768,537.25. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $16,073,443 over the last ninety days. 0.43% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $711.00 to $696.00 and set an "outperform" rating for the company in a research report on Thursday, October 27th. Benchmark cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, October 12th. They issued a "buy" rating for the company. Barclays upped their price objective on shares of Thermo Fisher Scientific from $570.00 to $630.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Royal Bank of Canada began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 6th. They issued an "outperform" rating and a $661.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $633.30.
About Thermo Fisher Scientific
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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Further Reading
- Get a free copy of the StockNews.com research report on Thermo Fisher Scientific (TMO)
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