Thermo Fisher Scientific Inc (TMO) Stake Reduced by American International Group Inc.
American International Group Inc. decreased its stake in Thermo Fisher Scientific Inc (NYSE:TMO) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 162,203 shares of the medical research company’s stock after selling 1,505 shares during the period. American International Group Inc.’s holdings in Thermo Fisher Scientific were worth $24,914,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cigna Investments Inc. New purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $2,051,000. Summit Global Investments purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $353,000. Barings LLC raised its position in Thermo Fisher Scientific by 58.6% in the fourth quarter. Barings LLC now owns 14,369 shares of the medical research company’s stock valued at $2,027,000 after buying an additional 5,310 shares in the last quarter. Empire Life Investments Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $3,159,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $107,251,000. Institutional investors own 86.93% of the company’s stock.
Shares of Thermo Fisher Scientific Inc (NYSE TMO) opened at 180.79 on Tuesday. The stock’s 50 day moving average is $173.88 and its 200-day moving average is $158.53. The company has a market cap of $70.73 billion, a P/E ratio of 32.98 and a beta of 1.06. Thermo Fisher Scientific Inc has a one year low of $139.07 and a one year high of $182.40.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 26th. The medical research company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.06. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.68 billion. Thermo Fisher Scientific had a net margin of 11.58% and a return on equity of 15.73%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $1.80 earnings per share. Equities research analysts forecast that Thermo Fisher Scientific Inc will post $9.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s payout ratio is 10.95%.
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TMO has been the topic of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $160.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, March 29th. Leerink Swann set a $187.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Thursday, April 27th. Barclays PLC set a $175.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 26th. BTIG Research upped their price target on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG upped their price target on shares of Thermo Fisher Scientific from $163.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $187.29.
In related news, insider Thomas W. Loewald sold 1,532 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $168.76, for a total transaction of $258,540.32. Following the completion of the transaction, the insider now owns 41,277 shares of the company’s stock, valued at $6,965,906.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the transaction, the chief executive officer now directly owns 269,279 shares of the company’s stock, valued at approximately $46,528,718.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,720 shares of company stock valued at $4,960,764. 0.49% of the stock is owned by corporate insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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