Forsta AP Fonden lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,970 shares of the medical research company’s stock after selling 6,100 shares during the period. Thermo Fisher Scientific comprises approximately 1.0% of Forsta AP Fonden’s holdings, making the stock its 26th largest holding. Forsta AP Fonden’s holdings in Thermo Fisher Scientific were worth $26,508,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Thermo Fisher Scientific during the second quarter valued at about $103,000. Horrell Capital Management Inc. bought a new stake in Thermo Fisher Scientific during the second quarter valued at about $104,000. Edge Wealth Management LLC boosted its position in 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 valued at $152,000 after purchasing an additional 727 shares in the last quarter. Private Capital Group LLC boosted its position in 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 valued at $179,000 after purchasing an additional 315 shares in the last quarter. Finally, First Command Bank bought a new stake in Thermo Fisher Scientific during the second quarter valued at about $182,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
In other news, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $233.95, for a total value of $11,697,500.00. Following the completion of the transaction, the chief executive officer now owns 320,122 shares of the company’s stock, valued at $74,892,541.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,070 shares of company stock valued at $47,569,729. Company insiders own 0.49% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $259.00 price objective on the stock in a research report on Monday, July 30th. Leerink Swann raised their price objective on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $233.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. ValuEngine raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $300.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $252.44.
NYSE TMO traded down $2.69 during trading on Friday, hitting $240.69. The company’s stock had a trading volume of 1,858,171 shares, compared to its average volume of 1,389,336. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58. The company has a market cap of $98.31 billion, a PE ratio of 25.36, a P/E/G ratio of 1.78 and a beta of 1.12. Thermo Fisher Scientific Inc. has a fifty-two week low of $181.51 and a fifty-two week high of $249.95.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.12. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.90 billion. Thermo Fisher Scientific had a return on equity of 16.28% and a net margin of 10.36%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 10.98 earnings per share for the current fiscal year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, September 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, September 14th. Thermo Fisher Scientific’s payout ratio is 7.17%.
Thermo Fisher Scientific Company 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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