Covea Finance cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,201 shares of the medical research company's stock after selling 5,410 shares during the period. Thermo Fisher Scientific accounts for about 2.3% of Covea Finance's portfolio, making the stock its 11th largest position. Covea Finance's holdings in Thermo Fisher Scientific were worth $51,607,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of TMO. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $27,000. HWG Holdings LP acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $50,000. RPg Family Wealth Advisory LLC acquired a new position in Thermo Fisher Scientific during the third quarter valued at $50,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 89.23% of the company's stock.
Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO traded down $5.35 during midday trading on Wednesday, hitting $551.64. The company's stock had a trading volume of 3,251,296 shares, compared to its average volume of 2,182,221. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a market cap of $211.00 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The business's 50 day simple moving average is $529.85 and its 200 day simple moving average is $568.13.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the business earned $5.69 earnings per share. The business's revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.
Thermo Fisher Scientific Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific's payout ratio is 9.78%.
Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have recently commented on TMO shares. Morgan Stanley lowered their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an "overweight" rating on the stock in a research note on Monday. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a "sector perform" rating and a $605.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. StockNews.com raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $648.95.
Check Out Our Latest Research Report on TMO
Insider Buying and Selling
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company's stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Profile
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Free Report)
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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