Thermo Fisher Scientific Inc (TMO) Position Reduced by Front Barnett Associates LLC
Front Barnett Associates LLC trimmed its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,870 shares of the medical research company’s stock after selling 894 shares during the quarter. Thermo Fisher Scientific accounts for 5.0% of Front Barnett Associates LLC’s holdings, making the stock its 2nd largest holding. Front Barnett Associates LLC’s holdings in Thermo Fisher Scientific were worth $28,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC lifted its holdings in Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock worth $105,000 after buying an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $113,000. Chicago Partners Investment Group LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $108,000. Ropes Wealth Advisors LLC lifted its holdings in Thermo Fisher Scientific by 15.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock worth $124,000 after buying an additional 97 shares during the last quarter. Finally, Atlantic Trust LLC purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $138,000. 86.16% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on TMO shares. Leerink Swann boosted their target price on Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Monday, October 9th. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a report on Thursday, September 21st. Cowen reissued an “outperform” rating and issued a $220.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Deutsche Bank set a $226.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Barclays reissued an “overweight” rating and issued a $215.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $205.21.
Thermo Fisher Scientific Inc (TMO) traded up $0.42 during midday trading on Wednesday, reaching $182.45. The company’s stock had a trading volume of 2,229,200 shares, compared to its average volume of 1,558,350. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. Thermo Fisher Scientific Inc has a 52 week low of $139.88 and a 52 week high of $201.20. The firm has a market cap of $72,570.00, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06.
Thermo Fisher Scientific (NYSE:TMO) last released its 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 return on equity of 15.94% and a net margin of 11.73%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. research 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. Investors of record on Friday, December 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.19%.
In related news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was 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 approximately $47,582,981.03. The transaction 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.
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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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