Westhampton Capital LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 3.4% in the 4th quarter, Holdings Channel reports. The fund owned 2,292 shares of the medical research company’s stock after acquiring an additional 75 shares during the quarter. Westhampton Capital LLC’s holdings in Thermo Fisher Scientific were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IFG Advisors LLC raised its position in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after buying an additional 18 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its position in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock worth $2,720,000 after purchasing an additional 19 shares in the last quarter. Axiom Advisory LLC raised its holdings in Thermo Fisher Scientific by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock valued at $720,000 after acquiring an additional 19 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on TMO shares. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America dropped their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Morgan Stanley reduced their target price on 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 investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $648.95.
Insider Buying and Selling
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 34,850 shares of company stock worth $19,123,197. Corporate insiders own 0.34% of the company’s stock.
Thermo Fisher Scientific Stock Performance
Shares of TMO stock opened at $567.09 on Thursday. The company’s fifty day moving average price is $536.74 and its two-hundred day moving average price is $570.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a market capitalization of $216.91 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.
Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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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