Summit X LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,945 shares of the medical research company’s stock after selling 230 shares during the period. Summit X LLC’s holdings in Thermo Fisher Scientific were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Thermo Fisher Scientific by 1.4% during the second quarter. BlackRock Inc. now owns 27,643,905 shares of the medical research company’s stock worth $8,118,461,000 after buying an additional 392,227 shares during the last quarter. Johanson Financial Advisors Inc. raised its holdings in shares of Thermo Fisher Scientific by 32,131.6% during the 4th quarter. Johanson Financial Advisors Inc. now owns 262,043 shares of the medical research company’s stock worth $806,000 after acquiring an additional 261,230 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Thermo Fisher Scientific by 28.2% during the 3rd quarter. California Public Employees Retirement System now owns 893,555 shares of the medical research company’s stock worth $260,266,000 after acquiring an additional 196,657 shares in the last quarter. Natixis raised its holdings in shares of Thermo Fisher Scientific by 347.7% during the 2nd quarter. Natixis now owns 237,458 shares of the medical research company’s stock worth $69,737,000 after acquiring an additional 184,420 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Thermo Fisher Scientific by 147.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 308,700 shares of the medical research company’s stock valued at $89,915,000 after buying an additional 183,700 shares during the period. 88.31% of the stock is owned by institutional investors and hedge funds.
TMO stock traded down $4.67 during midday trading on Thursday, reaching $335.38. The company had a trading volume of 1,213,794 shares, compared to its average volume of 1,050,726. The company has a quick ratio of 1.23, a current ratio of 1.80 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $326.72 and a 200 day moving average price of $299.56. Thermo Fisher Scientific Inc. has a fifty-two week low of $235.90 and a fifty-two week high of $342.26. The firm has a market capitalization of $135.24 billion, a PE ratio of 37.68, a P/E/G ratio of 1.98 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $2.94 EPS for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.06. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.19 billion. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. Thermo Fisher Scientific’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 earnings per share. Research analysts predict that Thermo Fisher Scientific Inc. will post 12.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.76 annualized dividend and a dividend yield of 0.23%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 8th that allows the company to buyback $2.50 million in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
A number of research firms have weighed in on TMO. Citigroup initiated coverage on Thermo Fisher Scientific in a research note on Monday, January 6th. They issued a “buy” rating and a $380.00 target price on the stock. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $305.00 to $319.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus started coverage on Thermo Fisher Scientific in a research note on Thursday, November 14th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Cowen reiterated an “outperform” rating and set a $365.00 price target (up from $330.00) on shares of Thermo Fisher Scientific in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $325.33.
In other news, CEO Marc N. Casper sold 47,729 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $295.88, for a total transaction of $14,122,056.52. Following the completion of the transaction, the chief executive officer now directly owns 328,960 shares in the company, valued at $97,332,684.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.45% of the company’s stock.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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