Cigna Investments Inc. New increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,310 shares of the medical research company’s stock after buying an additional 650 shares during the quarter. Cigna Investments Inc. New’s holdings in Thermo Fisher Scientific were worth $3,207,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Capital Asset Advisory Services LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $296,000. Carnegie Capital Asset Management LLC increased its holdings in Thermo Fisher Scientific by 13.1% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 24,794 shares of the medical research company’s stock worth $8,055,000 after buying an additional 2,881 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $5,928,000. Fulton Bank N.A. grew its stake in shares of Thermo Fisher Scientific by 7.8% during the 1st quarter. Fulton Bank N.A. now owns 5,125 shares of the medical research company’s stock worth $1,454,000 after purchasing an additional 371 shares during the period. Finally, Fundamentun LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $476,000. Institutional investors own 88.68% of the company’s stock.
In other Thermo Fisher Scientific news, COO Mark Stevenson sold 25,000 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $328.03, for a total value of $8,200,750.00. Following the completion of the sale, the chief operating officer now directly owns 73,538 shares of the company’s stock, valued at approximately $24,122,670.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $333.02, for a total value of $9,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 304,946 shares of the company’s stock, valued at $101,553,116.92. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.
TMO has been the topic of a number of analyst reports. BTIG Research raised their price objective on shares of Thermo Fisher Scientific from $342.00 to $372.00 and gave the stock an “in-line” rating in a research note on Friday, January 31st. Argus reaffirmed a “positive” rating and set a $370.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, February 24th. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $340.00 to $341.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $345.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Needham & Company LLC raised their price objective on shares of Thermo Fisher Scientific from $341.00 to $383.00 in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $347.21.
TMO stock traded up $4.51 during midday trading on Friday, reaching $340.26. The stock had a trading volume of 1,097,619 shares, compared to its average volume of 1,572,086. The company’s fifty day simple moving average is $324.75 and its 200 day simple moving average is $317.43. The company has a current ratio of 2.32, a quick ratio of 1.69 and a debt-to-equity ratio of 0.67. The company has a market cap of $132.60 billion, a price-to-earnings ratio of 37.31, a price-to-earnings-growth ratio of 2.25 and a beta of 1.04. Thermo Fisher Scientific Inc. has a 52-week low of $250.21 and a 52-week high of $351.86.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 22nd. The medical research company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.15. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.18 billion. Thermo Fisher Scientific had a return on equity of 17.25% and a net margin of 14.31%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 11.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.88 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 7.13%.
About Thermo Fisher Scientific
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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