Flossbach Von Storch AG lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 41.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,608 shares of the medical research company’s stock after selling 15,402 shares during the quarter. Flossbach Von Storch AG’s holdings in Thermo Fisher Scientific were worth $5,274,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Xact Kapitalforvaltning AB lifted its stake in Thermo Fisher Scientific by 0.5% in the second quarter. Xact Kapitalforvaltning AB now owns 90,066 shares of the medical research company’s stock valued at $18,656,000 after buying an additional 405 shares during the period. Gateway Investment Advisers LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $4,147,000. BLB&B Advisors LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $311,000. Addenda Capital Inc. acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $27,655,000. Finally, First National Bank of Omaha lifted its stake in Thermo Fisher Scientific by 1.4% in the second quarter. First National Bank of Omaha now owns 38,937 shares of the medical research company’s stock valued at $8,065,000 after buying an additional 521 shares during the period. 85.22% of the stock is currently owned by institutional investors and hedge funds.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $247.00 target price on the stock in a research note on Friday, October 26th. Morgan Stanley increased their target price on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 25th. Robert W. Baird increased their target price on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Finally, Citigroup increased their target price on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average target price of $261.45.
Shares of Thermo Fisher Scientific stock opened at $243.45 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $249.95. The stock has a market capitalization of $95.91 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase program on Friday, September 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 7.17%.
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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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