Jackson Square Capital LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,943 shares of the medical research company's stock after selling 4,367 shares during the quarter. Jackson Square Capital LLC's holdings in Thermo Fisher Scientific were worth $3,092,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $50,000. Decker Retirement Planning Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $43,000. Finally, HWG Holdings LP purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $50,000. 89.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company's stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 over the last 90 days. 0.34% of the stock is owned by insiders.
Thermo Fisher Scientific Trading Down 0.4 %
Shares of TMO stock traded down $1.99 on Friday, hitting $559.72. The stock had a trading volume of 2,134,669 shares, compared to its average volume of 1,426,114. 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 $214.09 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. The company's 50 day moving average price is $529.96 and its 200-day moving average price is $568.33. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.69 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
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 dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific's payout ratio is 9.78%.
Analyst Ratings Changes
A number of analysts have recently commented on TMO shares. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Bernstein Bank boosted their price target 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 decreased their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $648.95.
View Our Latest Report on TMO
About Thermo Fisher Scientific
(
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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