Thermo Fisher Scientific Inc. (TMO) Stake Boosted by Edge Advisors LLC
Edge Advisors LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,355 shares of the medical research company’s stock after acquiring an additional 276 shares during the quarter. Edge Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,016,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $105,000. Bank of Nova Scotia Trust Co. bought a new position in Thermo Fisher Scientific during the third quarter worth $106,000. Keeler Thomas Management LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $106,000. Atlantic Trust LLC bought a new position in Thermo Fisher Scientific during the second quarter worth $138,000. Finally, SeaCrest Wealth Management LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $195,000. 86.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Gregory J. Herrema sold 33,327 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $219.70, for a total value of $7,321,941.90. Following the sale, the senior vice president now owns 60,471 shares in the company, valued at approximately $13,285,478.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Parrett sold 1,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $209.80, for a total transaction of $209,800.00. The disclosure for this sale can be found here. Insiders have sold 96,327 shares of company stock worth $19,681,772 in the last quarter. Corporate insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, January 31st. The medical research company reported $2.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.13. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. equities analysts forecast that Thermo Fisher Scientific Inc. will post 10.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.33%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. Thermo Fisher Scientific’s payout ratio is currently 10.71%.
A number of brokerages recently issued reports on TMO. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America boosted their target price on shares of Thermo Fisher Scientific from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $223.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Barclays boosted their target price on shares of Thermo Fisher Scientific from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $239.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Thursday, February 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $220.50.
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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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