Thermo Fisher Scientific Inc. (NYSE:TMO) has been assigned an average recommendation of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $263.64.
TMO has been the topic of a number of recent analyst reports. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. Barclays increased their price target on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a report on Monday, October 1st. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price target on the stock. Finally, Citigroup increased their price target on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th.
In related news, insider Gregory J. Herrema sold 17,235 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $247.00, for a total value of $4,257,045.00. Following the sale, the insider now directly owns 26,446 shares of the company’s stock, valued at $6,532,162. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Insiders sold 148,627 shares of company stock worth $36,744,510 over the last ninety days. 0.49% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TMO. Rehmann Capital Advisory Group grew its position in Thermo Fisher Scientific by 5.6% during the third quarter. Rehmann Capital Advisory Group now owns 3,288 shares of the medical research company’s stock valued at $803,000 after acquiring an additional 173 shares during the last quarter. Pitcairn Co. grew its position in Thermo Fisher Scientific by 1.3% during the second quarter. Pitcairn Co. now owns 16,871 shares of the medical research company’s stock valued at $3,495,000 after acquiring an additional 215 shares during the last quarter. Hall Capital Management Co. Inc. grew its position in Thermo Fisher Scientific by 6.2% during the third quarter. Hall Capital Management Co. Inc. now owns 3,780 shares of the medical research company’s stock valued at $923,000 after acquiring an additional 220 shares during the last quarter. Nvwm LLC grew its holdings in shares of Thermo Fisher Scientific by 6.1% in the second quarter. Nvwm LLC now owns 4,231 shares of the medical research company’s stock worth $877,000 after purchasing an additional 242 shares during the last quarter. Finally, Tiedemann Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 19.4% in the second quarter. Tiedemann Advisors LLC now owns 1,518 shares of the medical research company’s stock worth $315,000 after purchasing an additional 247 shares during the last quarter. 86.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Thermo Fisher Scientific stock traded down $6.18 on Friday, reaching $235.86. The stock had a trading volume of 1,564,804 shares, compared to its average volume of 1,469,994. Thermo Fisher Scientific has a 1 year low of $185.86 and a 1 year high of $253.91. The company has a market cap of $98.18 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.77 and a beta of 1.09. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts predict that Thermo Fisher Scientific will post 11.05 earnings per share for the current year.
The business also recently announced 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 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.
Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, September 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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