Hayek Kallen Investment Management lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,334 shares of the medical research company’s stock after selling 744 shares during the quarter. Thermo Fisher Scientific makes up about 3.3% of Hayek Kallen Investment Management’s holdings, making the stock its 8th largest position. Hayek Kallen Investment Management’s holdings in Thermo Fisher Scientific were worth $5,340,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $25,000. Ellevest Inc. grew its holdings in Thermo Fisher Scientific by 137.5% in the 2nd quarter. Ellevest Inc. now owns 95 shares of the medical research company’s stock valued at $28,000 after buying an additional 55 shares during the period. American National Bank purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $29,000. Massey Quick Simon & CO. LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $30,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in Thermo Fisher Scientific by 11.3% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 104,069 shares of the medical research company’s stock valued at $30,000 after buying an additional 10,569 shares during the period. 88.24% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jim P. Manzi sold 1,833 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total transaction of $500,280.69. Following the transaction, the director now directly owns 28,592 shares of the company’s stock, valued at approximately $7,803,614.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 47,729 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $295.88, for a total value of $14,122,056.52. Following the transaction, the chief executive officer now directly owns 328,960 shares in the company, valued at $97,332,684.80. The disclosure for this sale can be found here. Insiders have sold a total of 51,833 shares of company stock valued at $15,299,095 in the last quarter. Company insiders own 0.45% of the company’s stock.
Several analysts have commented on TMO shares. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. Credit Suisse Group restated a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $305.00 to $319.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC lifted their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, ValuEngine cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $314.45.
Shares of NYSE:TMO traded up $1.11 during trading on Friday, reaching $294.65. 773,005 shares of the stock were exchanged, compared to its average volume of 1,323,858. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.80. Thermo Fisher Scientific Inc. has a 12-month low of $208.34 and a 12-month high of $306.00. The firm has a market cap of $117.34 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The firm’s 50-day moving average price is $290.14 and its 200 day moving average price is $283.57.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.88 by $0.06. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. The business had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the business earned $2.62 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 12.33 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 6.83%.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
Further Reading: Capital Gains Distribution
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