Mine & Arao Wealth Creation & Management LLC. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 32.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414 shares of the medical research company’s stock after selling 200 shares during the quarter. Mine & Arao Wealth Creation & Management LLC.’s holdings in Thermo Fisher Scientific were worth $216,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. State Street Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares during the period. FMR LLC lifted its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Up 6.8 %
Thermo Fisher Scientific stock opened at $607.06 on Friday. The company has a market capitalization of $232.20 billion, a P/E ratio of 38.06, a P/E/G ratio of 3.89 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm’s fifty day simple moving average is $537.83 and its 200-day simple moving average is $570.33. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.
Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Thermo Fisher Scientific Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the transaction, the chief executive officer now directly owns 33,608 shares of the company’s stock, valued at $18,757,296.96. The trade was a 22.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 29,000 shares of company stock valued at $15,859,540 in the last quarter. Insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on TMO. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Finally, Morgan Stanley cut their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $648.95.
Get Our Latest Research Report on TMO
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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