DZ Bank started coverage on shares of Thermo Fisher Scientific (NYSE:TMO – Free Report) in a research report released on Friday, Marketbeat reports. The brokerage issued a buy rating and a $610.00 target price on the medical research company’s stock.
TMO has been the subject of several other research reports. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price on the stock. Barclays upped their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $632.50.
Thermo Fisher Scientific Trading Up 0.1%
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.10 earnings per share. Equities research analysts expect that Thermo Fisher Scientific will post 23.28 EPS for the current year.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.60%.
Insider Transactions at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Thermo Fisher Scientific
Several institutional investors and hedge funds have recently bought and sold shares of the business. High Note Wealth LLC grew its holdings in shares of Thermo Fisher Scientific by 170.6% during the 4th quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 29 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $28,000. Beacon Financial Strategies CORP acquired a new stake in Thermo Fisher Scientific during the fourth quarter valued at $29,000. Olistico Wealth LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth about $29,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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