Quadrature Capital Ltd cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 87.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,554 shares of the medical research company's stock after selling 68,484 shares during the period. Quadrature Capital Ltd's holdings in Thermo Fisher Scientific were worth $5,910,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock valued at $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter worth $27,000. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC grew its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Thermo Fisher Scientific in the second quarter worth $43,000. 89.23% of the stock is owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Stock Performance
TMO stock traded up $8.59 during trading on Friday, reaching $529.45. The stock had a trading volume of 1,869,724 shares, compared to its average volume of 1,532,184. Thermo Fisher Scientific Inc. has a 52 week low of $488.02 and a 52 week high of $627.88. The stock's 50 day moving average is $559.78 and its two-hundred day moving average is $576.07. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a market cap of $202.51 billion, a PE ratio of 33.19, a PEG ratio of 3.59 and a beta of 0.77.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share 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 company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 earnings per share. Thermo Fisher Scientific's revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.
Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's payout ratio is 9.78%.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Friday, October 25th. The stock was 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 owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company's stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
TMO has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Bernstein Bank increased their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Robert W. Baird cut their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $649.33.
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About Thermo Fisher Scientific
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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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