Traders Buy Shares of Thermo Fisher Scientific Inc. (TMO) on Weakness
Traders bought shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on weakness during trading on Thursday. $82.07 million flowed into the stock on the tick-up and $65.23 million flowed out of the stock on the tick-down, for a money net flow of $16.84 million into the stock. Of all stocks tracked, Thermo Fisher Scientific had the 30th highest net in-flow for the day. Thermo Fisher Scientific traded down ($1.32) for the day and closed at $153.35
A number of equities research analysts have recently weighed in on TMO shares. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Wednesday, July 20th. BTIG Research raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Friday, July 22nd. Mizuho set a $175.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Thursday, July 28th. Jefferies Group lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, May 19th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $159.66.
The company has a 50-day moving average price of $155.46 and a 200 day moving average price of $145.53. The company has a market cap of $60.55 billion and a P/E ratio of 30.72.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, July 28th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.02. The business earned $4.54 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the firm earned $1.84 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post $8.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Thursday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 30,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 1st. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the transaction, the chief executive officer now directly owns 350,998 shares of the company’s stock, valued at $52,246,052.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Martin Harris sold 390 shares of Thermo Fisher Scientific stock in a transaction on Friday, August 5th. The stock was sold at an average price of $157.33, for a total transaction of $61,358.70. Following the completion of the transaction, the director now directly owns 4,648 shares in the company, valued at $731,269.84. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in TMO. Andra AP fonden raised its stake in shares of Thermo Fisher Scientific by 15.7% in the fourth quarter. Andra AP fonden now owns 46,400 shares of the company’s stock worth $6,582,000 after buying an additional 6,300 shares during the period. Suntrust Banks Inc. raised its stake in shares of Thermo Fisher Scientific by 7.9% in the fourth quarter. Suntrust Banks Inc. now owns 51,542 shares of the company’s stock worth $7,309,000 after buying an additional 3,759 shares during the period. J. Goldman & Co LP bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $1,733,000. Pitcairn Co. raised its stake in shares of Thermo Fisher Scientific by 263.4% in the fourth quarter. Pitcairn Co. now owns 11,313 shares of the company’s stock worth $1,605,000 after buying an additional 8,200 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Thermo Fisher Scientific by 2.3% in the fourth quarter. Schroder Investment Management Group now owns 1,613,770 shares of the company’s stock worth $228,913,000 after buying an additional 36,326 shares during the period.
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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