Traders Buy Thermo Fisher Scientific (TMO) on Weakness

Investors purchased shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on weakness during trading hours on Thursday. $91.99 million flowed into the stock on the tick-up and $33.91 million flowed out of the stock on the tick-down, for a money net flow of $58.08 million into the stock. Of all equities tracked, Thermo Fisher Scientific had the 6th highest net in-flow for the day. Thermo Fisher Scientific traded down ($0.66) for the day and closed at $209.13

TMO has been the topic of several recent analyst reports. Deutsche Bank set a $226.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Leerink Swann reissued a “buy” rating on shares of Thermo Fisher Scientific in a report on Monday, October 30th. Evercore ISI initiated coverage on shares of Thermo Fisher Scientific in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $220.00 target price on the stock. Finally, BTIG Research initiated coverage on shares of Thermo Fisher Scientific in a report on Friday, January 5th. They issued a “buy” rating and a $230.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $220.50.

The stock has a market cap of $83,860.00, a price-to-earnings ratio of 34.28, a PEG ratio of 1.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.92 and a current ratio of 1.35.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, January 31st. The medical research company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.13. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.72 billion. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 EPS. analysts forecast that Thermo Fisher Scientific Inc. will post 10.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s payout ratio is 9.84%.

In related news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the sale, the chief executive officer now directly owns 302,577 shares of the company’s stock, valued at approximately $58,016,113.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gregory J. Herrema sold 33,327 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $219.70, for a total transaction of $7,321,941.90. Following the sale, the senior vice president now directly owns 60,471 shares in the company, valued at $13,285,478.70. The disclosure for this sale can be found here. Insiders have sold a total of 95,327 shares of company stock worth $19,470,342 over the last ninety days. 0.49% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in TMO. Icon Wealth Partners LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $105,000. Bank of Nova Scotia Trust Co. bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $106,000. Keeler Thomas Management LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $106,000. Virtue Capital Management LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $127,000. Finally, Premia Global Advisors LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $131,000. 86.54% of the stock is currently owned by institutional investors.

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About Thermo Fisher Scientific

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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