Johnson Investment Counsel Inc. lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,233 shares of the medical research company’s stock after purchasing an additional 105 shares during the period. Johnson Investment Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $4,296,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Silicon Valley Capital Partners bought a new stake in Thermo Fisher Scientific in the 1st quarter worth $29,000. Live Oak Investment Partners bought a new stake in Thermo Fisher Scientific in the 4th quarter worth $36,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the 1st quarter worth $43,000. Raleigh Capital Management Inc. grew its holdings in Thermo Fisher Scientific by 229.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 79 shares of the medical research company’s stock worth $46,000 after acquiring an additional 55 shares during the last quarter. Finally, Sittner & Nelson LLC grew its holdings in Thermo Fisher Scientific by 62.5% in the 1st quarter. Sittner & Nelson LLC now owns 91 shares of the medical research company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 87.06% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on TMO. JPMorgan Chase & Co. cut their price target on shares of Thermo Fisher Scientific from $670.00 to $630.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Sanford C. Bernstein began coverage on shares of Thermo Fisher Scientific in a research report on Thursday, September 28th. They issued an “outperform” rating and a $603.00 target price for the company. Raymond James dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $515.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Wells Fargo & Company raised shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 target price for the company in a research report on Wednesday, October 25th. Finally, Barclays dropped their target price on shares of Thermo Fisher Scientific from $625.00 to $585.00 in a research report on Friday, September 29th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $593.94.
Insider Transactions at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 3,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $454.41, for a total transaction of $4,544,100.00. Following the sale, the chief executive officer now owns 131,175 shares of the company’s stock, valued at $59,607,231.75. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $10,778,910 over the last three months. 0.32% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Stock Down 1.3 %
Thermo Fisher Scientific stock traded down $6.05 during trading hours on Friday, hitting $466.42. The stock had a trading volume of 1,556,348 shares, compared to its average volume of 2,370,244. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $180.21 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 2.87 and a beta of 0.81. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $609.85. The stock’s 50-day moving average price is $479.00 and its 200-day moving average price is $514.60.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its earnings results on Wednesday, October 25th. The medical research company reported $5.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The business had revenue of $10.57 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the company earned $5.08 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a $0.35 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.17%.
Thermo Fisher Scientific declared that its board has authorized a share buyback program on Tuesday, November 14th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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