Bridges Investment Management Inc. lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,490 shares of the medical research company’s stock after buying an additional 5,967 shares during the period. Bridges Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in TMO. Victory Capital Management Inc. boosted its stake in shares of Thermo Fisher Scientific by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 21,157 shares of the medical research company’s stock worth $4,368,000 after buying an additional 1,234 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Thermo Fisher Scientific by 223.0% in the 1st quarter. Synovus Financial Corp now owns 11,329 shares of the medical research company’s stock worth $2,332,000 after buying an additional 7,822 shares during the last quarter. ING Groep NV purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter worth $465,000. Associated Banc Corp boosted its stake in shares of Thermo Fisher Scientific by 17.0% in the 1st quarter. Associated Banc Corp now owns 28,351 shares of the medical research company’s stock worth $5,853,000 after buying an additional 4,119 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Thermo Fisher Scientific by 3.0% in the 1st quarter. Aperio Group LLC now owns 392,364 shares of the medical research company’s stock worth $81,007,000 after buying an additional 11,391 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.
In related news, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, August 6th. The stock was sold at an average price of $233.95, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick M. Durbin sold 20,550 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $233.87, for a total value of $4,806,028.50. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Leerink Swann raised their price target on Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $233.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $300.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Finally, ValuEngine upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average target price of $240.82.
NYSE TMO opened at $244.00 on Friday. The firm has a market cap of $95.23 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.72 and a beta of 1.12. The company has a current ratio of 1.58, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a fifty-two week low of $181.51 and a fifty-two week high of $244.19.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share 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 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%. Thermo Fisher Scientific’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current year.
Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback plan on Friday, September 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase 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 shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 14th. This represents a $0.68 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 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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