Integrated Advisors Network LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,320 shares of the medical research company’s stock after acquiring an additional 67 shares during the quarter. Integrated Advisors Network LLC’s holdings in Thermo Fisher Scientific were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Kessler Investment Group LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter worth about $33,000. Anderson Fisher LLC bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $34,000. ARK Investment Management LLC bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $34,000. Newfound Research LLC bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $36,000. Finally, Norway Savings Bank increased its holdings in Thermo Fisher Scientific by 239.3% in the third quarter. Norway Savings Bank now owns 95 shares of the medical research company’s stock worth $42,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.
Shares of NYSE:TMO traded down $0.98 during mid-day trading on Tuesday, hitting $480.01. 12,853 shares of the company traded hands, compared to its average volume of 1,664,192. The stock has a market cap of $190.63 billion, a P/E ratio of 52.06, a P/E/G ratio of 1.86 and a beta of 0.98. The company has a current ratio of 2.62, a quick ratio of 2.02 and a debt-to-equity ratio of 0.69. Thermo Fisher Scientific Inc. has a 12-month low of $250.21 and a 12-month high of $532.57. The stock has a 50-day moving average price of $471.32 and a two-hundred day moving average price of $405.04.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 21st. The medical research company reported $5.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.37 by $1.26. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $7.68 billion. During the same quarter in the previous year, the firm earned $2.94 earnings per share. The business’s revenue was up 31.6% on a year-over-year basis. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 15.99 earnings per share for the current year.
Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Thursday, November 5th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be given a $0.22 dividend. The ex-dividend date is Monday, December 14th. This represents a $0.88 annualized dividend and a yield of 0.18%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.13%.
In other Thermo Fisher Scientific news, COO Mark Stevenson sold 22,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $420.16, for a total value of $9,243,520.00. Following the sale, the chief operating officer now directly owns 34,561 shares in the company, valued at $14,521,149.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $479.94, for a total value of $4,799,400.00. Following the completion of the sale, the chief executive officer now owns 228,694 shares in the company, valued at $109,759,398.36. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on the company. SVB Leerink lifted their target price on Thermo Fisher Scientific from $470.00 to $525.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $460.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Needham & Company LLC lifted their target price on Thermo Fisher Scientific from $477.00 to $539.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Bank of America raised their price objective on Thermo Fisher Scientific from $460.00 to $480.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Argus raised their price objective on Thermo Fisher Scientific from $370.00 to $450.00 in a research note on Monday, July 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average target price of $481.13.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
Further Reading: Example of operating income, EBIT and EBITDA
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