Tower Research Capital LLC TRC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 72.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,330 shares of the medical research company's stock after buying an additional 8,946 shares during the period. Tower Research Capital LLC TRC's holdings in Thermo Fisher Scientific were worth $11,097,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter worth about $28,000. FPC Investment Advisory Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $29,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $30,000. Institutional investors own 89.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on TMO shares. Scotiabank increased their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Citigroup lowered their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $680.00 to $580.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $641.18.
Get Our Latest Stock Report on TMO
Insiders Place Their Bets
In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Corporate insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Stock Performance
Shares of NYSE:TMO traded down $2.42 during trading on Wednesday, hitting $432.31. The stock had a trading volume of 3,491,900 shares, compared to its average volume of 1,729,740. The stock has a 50-day simple moving average of $491.37 and a two-hundred day simple moving average of $530.03. The stock has a market capitalization of $163.19 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a 12-month low of $409.85 and a 12-month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. Thermo Fisher Scientific's payout ratio is presently 10.41%.
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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