Riverhead Capital Management LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 24,198 shares of the medical research company’s stock after selling 627 shares during the quarter. Riverhead Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Thermo Fisher Scientific by 0.9% during the 3rd quarter. BlackRock Inc. now owns 25,233,243 shares of the medical research company’s stock worth $6,158,932,000 after acquiring an additional 226,824 shares during the period. FMR LLC boosted its position in shares of Thermo Fisher Scientific by 18.5% in the 3rd quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock worth $1,586,310,000 after purchasing an additional 1,016,082 shares in the last quarter. Wells Fargo & Company MN raised its stake in Thermo Fisher Scientific by 0.7% in the 3rd quarter. Wells Fargo & Company MN now owns 3,213,226 shares of the medical research company’s stock worth $784,285,000 after acquiring an additional 23,811 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Thermo Fisher Scientific by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,688,466 shares of the medical research company’s stock worth $656,201,000 after acquiring an additional 17,505 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Thermo Fisher Scientific by 9.8% in the 3rd quarter. Brown Advisory Inc. now owns 2,256,118 shares of the medical research company’s stock worth $550,673,000 after acquiring an additional 200,713 shares during the last quarter. 86.98% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 25th. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $256.00 to $264.00 and gave the stock an “outperform” rating in a report on Thursday, October 25th. Cleveland Research cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Finally, Citigroup boosted their target price on Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average price target of $263.45.
TMO opened at $238.69 on Thursday. Thermo Fisher Scientific Inc. has a one year low of $181.51 and a one year high of $253.91. The company has a market capitalization of $98.18 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 11.05 EPS for the current year.
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 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 of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase plan 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 buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Gregory J. Herrema sold 17,235 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $247.00, for a total value of $4,257,045.00. Following the transaction, the insider now directly owns 26,446 shares in the company, valued at $6,532,162. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tyler Jacks sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were 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 owns 5,879 shares in the company, valued at $1,481,390.42. The disclosure for this sale can be found here. Insiders sold 148,627 shares of company stock worth $36,744,510 over the last quarter. 0.49% of the stock is currently owned by insiders.
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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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