Benson Investment Management Company Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,233 shares of the medical research company’s stock after acquiring an additional 98 shares during the quarter. Thermo Fisher Scientific accounts for approximately 2.6% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 16th biggest holding. Benson Investment Management Company Inc.’s holdings in Thermo Fisher Scientific were worth $4,301,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Alps Advisors Inc. grew its position in shares of Thermo Fisher Scientific by 287,808.7% in the third quarter. Alps Advisors Inc. now owns 1,954,900 shares of the medical research company’s stock valued at $1,634,000 after purchasing an additional 1,954,221 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $280,017,000. AKO Capital LLP purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $192,228,000. CIBC Private Wealth Group LLC raised its position in shares of Thermo Fisher Scientific by 62.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,107,720 shares of the medical research company’s stock worth $488,887,000 after buying an additional 427,229 shares in the last quarter. Finally, FMR LLC grew its position in Thermo Fisher Scientific by 3.3% during the second quarter. FMR LLC now owns 11,621,011 shares of the medical research company’s stock worth $4,210,756,000 after buying an additional 376,531 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.
TMO has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $460.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and reduced their target price for the company from $550.00 to $500.00 in a report on Wednesday, December 16th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $485.00 to $535.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Atlantic Securities started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 30th. They set an “overweight” rating and a $494.00 price objective for the company. Finally, Credit Suisse Group increased their target price on shares of Thermo Fisher Scientific from $556.00 to $580.00 in a report on Tuesday. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Thermo Fisher Scientific has an average rating of “Buy” and a consensus target price of $492.58.
TMO stock traded up $4.73 during midday trading on Wednesday, hitting $503.50. The stock had a trading volume of 36,707 shares, compared to its average volume of 2,064,783. The firm has a market cap of $199.55 billion, a price-to-earnings ratio of 53.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98. The business has a 50-day moving average of $470.61 and a two-hundred day moving average of $441.63. Thermo Fisher Scientific Inc. has a 52-week low of $250.21 and a 52-week high of $532.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.62 and a quick ratio of 2.02.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 21st. The medical research company reported $5.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.37 by $1.26. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.94 earnings per share. Research analysts predict that Thermo Fisher Scientific Inc. will post 15.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Monday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 7.13%.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 5th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
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