Ninety One North America Inc. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,557 shares of the medical research company’s stock after selling 335 shares during the quarter. Ninety One North America Inc.’s holdings in Thermo Fisher Scientific were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in TMO. AMF Tjanstepension AB acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $42,409,000. Czech National Bank increased its position in shares of Thermo Fisher Scientific by 7.0% during the third quarter. Czech National Bank now owns 77,816 shares of the medical research company’s stock valued at $48,135,000 after purchasing an additional 5,076 shares during the period. GAMMA Investing LLC increased its position in shares of Thermo Fisher Scientific by 29.8% during the third quarter. GAMMA Investing LLC now owns 4,851 shares of the medical research company’s stock valued at $3,001,000 after purchasing an additional 1,115 shares during the period. Diversified Trust Co increased its position in shares of Thermo Fisher Scientific by 7.6% during the third quarter. Diversified Trust Co now owns 10,190 shares of the medical research company’s stock valued at $6,303,000 after purchasing an additional 717 shares during the period. Finally, Chemistry Wealth Management LLC grew its position in Thermo Fisher Scientific by 8.9% in the third quarter. Chemistry Wealth Management LLC now owns 587 shares of the medical research company’s stock valued at $363,000 after acquiring an additional 48 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on TMO. Bank of America lowered their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Scotiabank increased their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Wells Fargo & Company upped their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $658.00.
Thermo Fisher Scientific Stock Down 1.2 %
TMO stock opened at $586.84 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $541.37 and a two-hundred day moving average price of $571.18. The company has a market cap of $224.47 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is currently 9.44%.
Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 29,000 shares of company stock valued at $15,859,540. Insiders own 0.34% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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