Investors Buy Shares of Thermo Fisher Scientific Inc. (TMO) on Weakness
Traders purchased shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on weakness during trading hours 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 equities 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
Several analysts have issued reports on TMO shares. Goldman Sachs Group Inc. restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, July 6th. Leerink Swann restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Sunday, May 29th. Mizuho upped their price objective on Thermo Fisher Scientific from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, May 3rd. Finally, Morgan Stanley reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Saturday, April 30th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average price target of $159.66.
The firm has a 50 day moving average of $155.29 and a 200-day moving average of $145.37. The company has a market capitalization of $60.46 billion and a price-to-earnings ratio of 30.68.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, July 28th. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.02. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.50 billion. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post $8.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, September 13th.
In other news, VP Peter M. Wilver sold 68,200 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $152.38, for a total value of $10,392,316.00. Following the completion of the transaction, the vice president now owns 64,727 shares in the company, valued at $9,863,100.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Seth H. Hoogasian sold 5,023 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $156.00, for a total transaction of $783,588.00. Following the completion of the transaction, the vice president now owns 31,914 shares of the company’s stock, valued at approximately $4,978,584. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the stock. EdgePoint Investment Group Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $63,498,000. Westfield Capital Management Co. LP boosted its position in Thermo Fisher Scientific by 12.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 728,429 shares of the company’s stock worth $103,328,000 after buying an additional 78,445 shares during the period. KBC Group NV boosted its position in Thermo Fisher Scientific by 84.4% in the fourth quarter. KBC Group NV now owns 122,703 shares of the company’s stock worth $17,405,000 after buying an additional 56,169 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Thermo Fisher Scientific by 4.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,051,203 shares of the company’s stock worth $149,114,000 after buying an additional 39,952 shares during the period. Finally, Schroder Investment Management Group boosted its position in 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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