Miles Capital Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,451 shares of the medical research company’s stock after purchasing an additional 275 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.9% of Miles Capital Inc.’s investment portfolio, making the stock its 22nd biggest position. Miles Capital Inc.’s holdings in Thermo Fisher Scientific were worth $1,121,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. Capital Investment Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $217,000. Bridger Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 3.6% in the 4th quarter. Bridger Capital Management LLC now owns 11,586 shares of the medical research company’s stock valued at $3,766,000 after purchasing an additional 406 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Thermo Fisher Scientific by 4.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 23,055 shares of the medical research company’s stock valued at $7,490,000 after purchasing an additional 1,075 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Thermo Fisher Scientific by 21.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 176,603 shares of the medical research company’s stock valued at $57,373,000 after purchasing an additional 31,192 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its holdings in shares of Thermo Fisher Scientific by 10.0% during the 4th quarter. Argus Investors Counsel Inc. now owns 1,722 shares of the medical research company’s stock valued at $559,000 after purchasing an additional 156 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TMO traded up $0.63 during mid-day trading on Tuesday, reaching $339.82. 17,109 shares of the company’s stock were exchanged, compared to its average volume of 844,245. The firm has a market capitalization of $136.01 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.00 and a beta of 1.12. The business’s fifty day moving average price is $325.21 and its 200-day moving average price is $299.03. 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 twelve month low of $235.90 and a twelve month high of $339.34.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.88 by $0.06. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.19 billion. Thermo Fisher Scientific had a return on equity of 17.16% and a net margin of 14.24%. Thermo Fisher Scientific’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.62 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 12.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 17th were given a $0.19 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.22%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.83%.
Thermo Fisher Scientific declared that its board has approved a share buyback program on Friday, November 8th that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Thermo Fisher Scientific in a research report on Thursday, November 14th. They issued a “buy” rating and a $345.00 target price on the stock. Citigroup started coverage on shares of Thermo Fisher Scientific in a report on Monday, January 6th. They set a “buy” rating and a $380.00 price target for the company. Evercore ISI upgraded shares of Thermo Fisher Scientific to an “outperform” rating in a report on Thursday, November 14th. Wells Fargo & Co initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, January 7th. They issued an “equal weight” rating and a $350.00 price target for the company. Finally, Cowen reissued an “outperform” rating and set a $365.00 price objective (up previously from $330.00) on shares of Thermo Fisher Scientific in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $323.27.
In other news, CEO Marc N. Casper sold 47,729 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 328,960 shares of the company’s stock, valued at $97,332,684.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.45% of the company’s stock.
Thermo Fisher Scientific Company 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.
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