California State Teachers Retirement System grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,001 shares of the medical research company’s stock after purchasing an additional 6,824 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Thermo Fisher Scientific worth $210,006,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Karp Capital Management Corp grew its holdings in shares of Thermo Fisher Scientific by 0.7% during the third quarter. Karp Capital Management Corp now owns 4,980 shares of the medical research company’s stock worth $1,451,000 after buying an additional 35 shares during the last quarter. Brandywine Oak Private Wealth LLC boosted its holdings in Thermo Fisher Scientific by 2.0% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,813 shares of the medical research company’s stock valued at $528,000 after purchasing an additional 36 shares in the last quarter. Landmark Bank boosted its holdings in Thermo Fisher Scientific by 0.3% in the 3rd quarter. Landmark Bank now owns 13,623 shares of the medical research company’s stock valued at $3,968,000 after purchasing an additional 40 shares in the last quarter. Arvest Bank Trust Division boosted its holdings in Thermo Fisher Scientific by 2.8% in the 3rd quarter. Arvest Bank Trust Division now owns 1,454 shares of the medical research company’s stock valued at $424,000 after purchasing an additional 40 shares in the last quarter. Finally, MBM Wealth Consultants LLC boosted its holdings in Thermo Fisher Scientific by 2.9% in the 3rd quarter. MBM Wealth Consultants LLC now owns 1,442 shares of the medical research company’s stock valued at $420,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 88.32% of the company’s stock.
A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $305.00 to $319.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus initiated coverage on shares of Thermo Fisher Scientific in a research report on Thursday, November 14th. They set a “buy” rating and a $345.00 price target for the company. Finally, Evercore ISI upgraded shares of Thermo Fisher Scientific to an “outperform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $317.00.
TMO stock traded up $2.75 during midday trading on Wednesday, hitting $315.64. The stock had a trading volume of 942,812 shares, compared to its average volume of 1,528,822. Thermo Fisher Scientific Inc. has a 12-month low of $208.34 and a 12-month high of $316.09. The company’s 50-day moving average price is $300.24 and its 200 day moving average price is $288.23. The firm has a market cap of $125.89 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.80 and a quick ratio of 1.23.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.06. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.16%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the company earned $2.62 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 12.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 17th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.24%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 6.83%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase plan on Friday, November 8th that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 2,271 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $298.00, for a total value of $676,758.00. Following the transaction, the chief executive officer now owns 283,502 shares in the company, valued at approximately $84,483,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 47,729 shares of the business’s stock in a transaction 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 owns 328,960 shares in the company, valued at approximately $97,332,684.80. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.
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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