Gamco Investors INC. ET AL lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,179 shares of the medical research company’s stock after buying an additional 1,883 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Thermo Fisher Scientific were worth $11,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its stake in Thermo Fisher Scientific by 0.5% during the second quarter. Xact Kapitalforvaltning AB now owns 90,066 shares of the medical research company’s stock worth $18,656,000 after acquiring an additional 405 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth about $4,147,000. BLB&B Advisors LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth about $311,000. Addenda Capital Inc. bought a new stake in Thermo Fisher Scientific during the second quarter worth about $27,655,000. Finally, First National Bank of Omaha boosted its stake in Thermo Fisher Scientific by 1.4% during the second quarter. First National Bank of Omaha now owns 38,937 shares of the medical research company’s stock worth $8,065,000 after acquiring an additional 521 shares in the last quarter. Institutional investors own 85.22% of the company’s stock.
TMO has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a research note on Monday, October 1st. Barclays upped their target price on shares of Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, September 24th. Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Citigroup upped their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Finally, Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $242.00 to $254.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $261.45.
In related news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is owned by corporate insiders.
Shares of NYSE TMO opened at $243.45 on Friday. The company has a market capitalization of $95.91 billion, a PE ratio of 25.65, a PEG ratio of 1.73 and a beta of 1.08. Thermo Fisher Scientific Inc. has a 52-week low of $181.51 and a 52-week high of $249.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 7.17%.
Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
About Thermo Fisher Scientific
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.
Recommended Story: Fundamental Analysis and Individual Investors
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.