WESPAC Advisors SoCal LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,087 shares of the medical research company’s stock after purchasing an additional 49 shares during the period. Thermo Fisher Scientific accounts for about 3.2% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 8th biggest position. WESPAC Advisors SoCal LLC’s holdings in Thermo Fisher Scientific were worth $9,772,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MV Capital Management Inc. raised its position in Thermo Fisher Scientific by 577.8% in the second quarter. MV Capital Management Inc. now owns 61 shares of the medical research company’s stock worth $31,000 after acquiring an additional 52 shares during the period. Pacifica Partners Inc. increased its stake in shares of Thermo Fisher Scientific by 57.6% in the third quarter. Pacifica Partners Inc. now owns 52 shares of the medical research company’s stock worth $32,000 after purchasing an additional 19 shares in the last quarter. Bedel Financial Consulting Inc. increased its stake in shares of Thermo Fisher Scientific by 65.0% in the second quarter. Bedel Financial Consulting Inc. now owns 66 shares of the medical research company’s stock worth $33,000 after purchasing an additional 26 shares in the last quarter. Lake Point Wealth Management purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth about $34,000. Finally, FFT Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth about $35,000. 85.47% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on TMO shares. Jefferies Financial Group started coverage on shares of Thermo Fisher Scientific in a research note on Monday, September 20th. They issued a “hold” rating and a $540.00 target price for the company. Argus boosted their price objective on shares of Thermo Fisher Scientific from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Citigroup boosted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Cowen boosted their price objective on shares of Thermo Fisher Scientific from $655.00 to $696.00 and gave the company an “outperform” rating in a research note on Thursday, October 14th. Finally, Benchmark boosted their price objective on shares of Thermo Fisher Scientific from $580.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $613.89.
Thermo Fisher Scientific stock traded up $0.24 during mid-day trading on Thursday, reaching $633.00. 1,283,242 shares of the company traded hands, compared to its average volume of 1,530,386. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.19 and a quick ratio of 2.56. The firm’s 50 day moving average price is $606.29 and its 200 day moving average price is $544.24. The firm has a market capitalization of $249.43 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 1.93 and a beta of 0.72. Thermo Fisher Scientific Inc. has a 52-week low of $433.52 and a 52-week high of $651.57.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 27th. The medical research company reported $5.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.67 by $1.09. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.41 billion. Thermo Fisher Scientific had a net margin of 21.93% and a return on equity of 28.14%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.63 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.4 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Wednesday, December 15th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Tuesday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 4.83%.
Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Thursday, September 23rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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