Janney Montgomery Scott LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,122 shares of the medical research company’s stock after acquiring an additional 6,493 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Thermo Fisher Scientific were worth $27,855,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $103,000. Horrell Capital Management Inc. acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $104,000. Edge Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 8,077.8% in 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. Atlantic Trust LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $154,000. Finally, First Command Bank acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $182,000. 85.22% of the stock is owned by institutional investors.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.49% of the company’s stock.
A number of research analysts recently commented on TMO shares. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research note on Monday, October 1st. UBS Group initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, October 9th. They issued a “buy” rating and a $295.00 target price for the company. Goldman Sachs Group lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $242.00 to $254.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. Finally, Barclays increased their price objective on Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, September 24th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $261.45.
Thermo Fisher Scientific stock opened at $243.45 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.27. Thermo Fisher Scientific Inc. has a 52-week low of $181.51 and a 52-week high of $249.95. The firm has a market cap of $98.84 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.78 and a beta of 1.08.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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 firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $2.31 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts anticipate 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 authorized a share buyback plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 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%.
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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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