First Republic Investment Management Inc. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,325 shares of the medical research company’s stock after selling 2,572 shares during the period. First Republic Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $44,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in TMO. Cornerstone Wealth Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at $322,000. Acadian Asset Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at $212,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Thermo Fisher Scientific by 3,067.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,172 shares of the medical research company’s stock valued at $243,000 after purchasing an additional 1,135 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Thermo Fisher Scientific by 65.2% during the second quarter. First Trust Advisors LP now owns 157,471 shares of the medical research company’s stock valued at $32,619,000 after purchasing an additional 62,132 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 8.6% during the second quarter. Victory Capital Management Inc. now owns 22,983 shares of the medical research company’s stock valued at $4,761,000 after purchasing an additional 1,826 shares during the last quarter. 86.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Thermo Fisher Scientific stock opened at $243.89 on Thursday. The stock has a market capitalization of $100.46 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $253.91.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.07. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 11.05 earnings per share for the current year.
Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase program on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.
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 stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tyler Jacks sold 1,100 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $251.98, for a total value of $277,178.00. Following the completion of the transaction, the director now directly owns 5,879 shares in the company, valued at $1,481,390.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,627 shares of company stock valued at $36,744,510. Company insiders own 0.49% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $269.00 target price for the company in a report on Wednesday, November 28th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Citigroup upped their target price on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Finally, Barclays upped their target price on Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Monday, September 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $263.45.
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Thermo Fisher Scientific Profile
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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