Chartwell Investment Partners LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,500 shares of the medical research company’s stock after selling 2,500 shares during the period. Chartwell Investment Partners LLC’s holdings in Thermo Fisher Scientific were worth $7,933,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $103,000. Horrell Capital Management Inc. bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $104,000. Atlantic Trust LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $154,000. First Command Bank bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $182,000. Finally, First Command Financial Services Inc. bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $182,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.
Shares of NYSE TMO opened at $241.06 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $181.51 and a twelve month high of $249.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27. The stock has a market capitalization of $94.61 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company earned $2.31 EPS. Thermo Fisher Scientific’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.
Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Friday, September 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s payout ratio is 7.17%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research report on Monday, October 1st. Barclays increased their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, September 24th. Goldman Sachs Group lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Finally, Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $242.00 to $254.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $261.45.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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