Moors & Cabot Inc. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 319.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the medical research company’s stock after purchasing an additional 19,037 shares during the period. Moors & Cabot Inc.’s holdings in Thermo Fisher Scientific were worth $37,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. grew its position in Thermo Fisher Scientific by 200.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 45 shares of the medical research company’s stock worth $26,000 after purchasing an additional 30 shares during the period. Core Alternative Capital purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Pacifica Partners Inc. boosted its stake in shares of Thermo Fisher Scientific by 57.6% during the 3rd quarter. Pacifica Partners Inc. now owns 52 shares of the medical research company’s stock worth $32,000 after acquiring an additional 19 shares during the last quarter. Ellis Investment Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 285.7% during the 3rd quarter. Ellis Investment Partners LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 40 shares during the last quarter. Finally, Guidance Point Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $37,000. 85.93% of the stock is owned by institutional investors and hedge funds.
TMO has been the topic of several analyst reports. The Goldman Sachs Group upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, September 20th. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $635.00 to $657.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $625.00 to $700.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 14th. Finally, Jefferies Financial Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, September 20th. They set a “hold” rating and a $540.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Buy” and a consensus price target of $635.78.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 27th. The medical research company reported $5.76 EPS for the quarter, beating the consensus estimate of $4.67 by $1.09. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.41 billion. Thermo Fisher Scientific had a net margin of 21.93% and a return on equity of 28.14%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.63 EPS. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Wednesday, December 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, December 14th. This represents a $1.04 annualized dividend and a yield of 0.17%. Thermo Fisher Scientific’s payout ratio is 4.83%.
Thermo Fisher Scientific announced that its board has initiated a stock repurchase plan on Thursday, September 23rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, COO Mark Stevenson sold 26,925 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $632.69, for a total transaction of $17,035,178.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 22,550 shares of the business’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $638.10, for a total transaction of $14,389,155.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,400 shares of company stock worth $48,437,702 over the last quarter. 0.44% of the stock is currently owned by insiders.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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