Confluence Investment Management LLC Sells 5,792 Shares of Thermo Fisher Scientific Inc. (TMO)
Confluence Investment Management LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,968 shares of the medical research company’s stock after selling 5,792 shares during the quarter. Confluence Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $34,932,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Nova Scotia Trust Co. bought a new position in shares of Thermo Fisher Scientific during the third quarter worth approximately $106,000. Shine Investment Advisory Services Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $113,000. Chicago Partners Investment Group LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $108,000. Ropes Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 15.8% during the second quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock worth $124,000 after purchasing an additional 97 shares during the period. Finally, Atlantic Trust LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $138,000. 86.22% of the stock is currently owned by institutional investors.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $188.39, for a total value of $9,419,500.00. Following the sale, the chief executive officer now owns 252,577 shares in the company, valued at $47,582,981.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific Inc. (TMO) traded up $0.33 during midday trading on Monday, hitting $202.72. 1,974,343 shares of the company traded hands, compared to its average volume of 1,521,860. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. The firm has a market cap of $80,860.00, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. Thermo Fisher Scientific Inc. has a twelve month low of $140.00 and a twelve month high of $203.24.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business posted $2.03 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. equities research analysts predict that Thermo Fisher Scientific Inc. will post 9.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 15th will be given a $0.15 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.19%.
Several research analysts have recently commented on TMO shares. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Tuesday, October 31st. Cowen reiterated an “outperform” rating and set a $220.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. Leerink Swann reiterated an “outperform” rating and set a $200.00 price target (down previously from $216.00) on shares of Thermo Fisher Scientific in a research report on Monday, December 4th. Deutsche Bank set a $226.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Barclays reiterated an “overweight” rating and set a $215.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Monday, September 25th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $212.21.
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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