Thermo Fisher Scientific (TMO) Shares Gap Up After Strong Earnings
Thermo Fisher Scientific (NYSE:TMO) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $208.49, but opened at $213.17. Thermo Fisher Scientific shares last traded at $214.47, with a volume of 2151118 shares changing hands.
The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.62 billion. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 7.17%.
In other Thermo Fisher Scientific news, SVP Gregory J. Herrema sold 33,327 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $219.70, for a total transaction of $7,321,941.90. Following the sale, the senior vice president now directly 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 is accessible through this link. Also, CEO Marc N. Casper sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $210.16, for a total transaction of $8,406,400.00. Following the sale, the chief executive officer now owns 334,622 shares in the company, valued at $70,324,159.52. The disclosure for this sale can be found here. Insiders have sold a total of 88,827 shares of company stock worth $19,012,672 in the last three months. 0.49% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $105,000. Keeler Thomas Management LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $106,000. Virtue Capital Management LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $127,000. Premia Global Advisors LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $131,000. Finally, We Are One Seven LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $190,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.
The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $86,925.99, a P/E ratio of 22.60, a P/E/G ratio of 1.60 and a beta of 1.15.
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Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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