Cornerstone Investment Partners LLC Increases Position in Thermo Fisher Scientific Inc. (TMO)
Cornerstone Investment Partners LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 422,671 shares of the medical research company’s stock after buying an additional 1,130 shares during the period. Thermo Fisher Scientific makes up 3.5% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 12th largest holding. Cornerstone Investment Partners LLC owned 0.11% of Thermo Fisher Scientific worth $79,969,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in Thermo Fisher Scientific by 71.5% in the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after buying an additional 253 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $108,000. Shine Investment Advisory Services Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $113,000. Ropes Wealth Advisors LLC grew its stake in Thermo Fisher Scientific by 15.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after buying an additional 97 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
In other news, CEO Marc N. Casper sold 50,000 shares of the company’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 transaction of $9,419,500.00. Following the completion of the sale, the chief executive officer now owns 252,577 shares of the company’s stock, valued at approximately $47,582,981.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
Shares of Thermo Fisher Scientific Inc. (TMO) traded up $2.33 during trading on Friday, hitting $187.96. 2,429,212 shares of the stock were exchanged, compared to its average volume of 1,666,042. Thermo Fisher Scientific Inc. has a 12 month low of $139.88 and a 12 month high of $201.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.81 and a current ratio of 1.26. The company has a market cap of $75,371.02, a P/E ratio of 20.65, a PEG ratio of 1.72 and a beta of 1.06.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm posted $2.03 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. equities analysts predict that Thermo Fisher Scientific Inc. will post 9.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.19%.
A number of brokerages have issued reports on TMO. Deutsche Bank set a $226.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Leerink Swann increased their target price on shares of Thermo Fisher Scientific from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Monday, October 9th. Finally, Cowen restated an “outperform” rating and set a $220.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday, September 10th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average target price of $205.21.
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Thermo Fisher Scientific 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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