B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 55.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,866 shares of the medical research company’s stock after selling 7,374 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Thermo Fisher Scientific were worth $1,215,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $103,000. Horrell Capital Management Inc. acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $104,000. Edge Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 8,077.8% during the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after purchasing an additional 727 shares in the last quarter. Private Capital Group LLC lifted its position in shares of Thermo Fisher Scientific by 57.3% during the first quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock worth $179,000 after purchasing an additional 315 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 59.1% during the second quarter. Atlas Capital Advisors LLC now owns 875 shares of the medical research company’s stock worth $185,000 after buying an additional 325 shares during the period. 85.96% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on TMO shares. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a research note on Monday, October 1st. Barclays upped their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, September 24th. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $233.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Goldman Sachs Group lowered shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $300.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $252.44.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $233.95, for a total value of $11,697,500.00. Following the transaction, the chief executive officer now directly owns 320,122 shares in the company, valued at $74,892,541.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick M. Durbin sold 20,550 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total transaction of $4,806,028.50. The disclosure for this sale can be found here. Insiders sold 196,070 shares of company stock worth $47,569,729 over the last quarter. 0.49% of the stock is currently owned by insiders.
Shares of TMO stock traded down $2.69 during trading hours on Friday, reaching $240.69. 1,858,171 shares of the stock were exchanged, compared to its average volume of 1,389,336. The firm has a market capitalization of $98.31 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.78 and a beta of 1.12. Thermo Fisher Scientific Inc. has a 12-month low of $181.51 and a 12-month high of $249.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.12. The company had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.90 billion. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.68 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.
Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
Thermo Fisher Scientific Profile
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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