Fifth Third Bancorp lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,491 shares of the medical research company’s stock after acquiring an additional 20,730 shares during the quarter. Fifth Third Bancorp’s holdings in Thermo Fisher Scientific were worth $38,440,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its stake in Thermo Fisher Scientific by 396.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 620 shares of the medical research company’s stock valued at $151,000 after buying an additional 495 shares in the last quarter. Atlantic Trust LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at approximately $154,000. Ancora Advisors LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at approximately $166,000. Signet Financial Management LLC lifted its stake in Thermo Fisher Scientific by 90,000.0% in the 2nd quarter. Signet Financial Management LLC now owns 901 shares of the medical research company’s stock valued at $187,000 after buying an additional 900 shares in the last quarter. Finally, Summit Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at approximately $201,000. 86.98% of the stock is currently owned by institutional investors and hedge funds.
TMO has been the topic of a number of recent research reports. Zacks Investment Research raised 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 Thermo Fisher Scientific from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, September 24th. Morgan Stanley upped their target price on Thermo Fisher Scientific from $242.00 to $254.00 and gave the company an “overweight” rating in a research note on Wednesday, October 10th. Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Finally, Citigroup upped 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 investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average target price of $263.64.
Shares of Thermo Fisher Scientific stock opened at $235.86 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $185.86 and a fifty-two week high of $253.91. The firm has a market cap of $97.44 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09. 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 results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the company posted $2.31 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific Inc. will post 11.05 earnings per share for the current fiscal year.
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 paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.
Thermo Fisher Scientific announced that its board has approved a share repurchase program on Friday, September 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Marc N. Casper sold 125,520 shares of the company’s 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory J. Herrema sold 17,235 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $247.00, for a total value of $4,257,045.00. Following the sale, the insider now owns 26,446 shares of the company’s stock, valued at $6,532,162. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,627 shares of company stock worth $36,744,510. Corporate insiders own 0.49% of the company’s stock.
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Thermo Fisher Scientific 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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