Forsta AP Fonden Sells 6,100 Shares of Thermo Fisher Scientific Inc. (TMO)
Forsta AP Fonden trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,970 shares of the medical research company’s stock after selling 6,100 shares during the quarter. Thermo Fisher Scientific makes up 1.0% of Forsta AP Fonden’s investment portfolio, making the stock its 26th largest position. Forsta AP Fonden’s holdings in Thermo Fisher Scientific were worth $26,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of TMO. FNY Investment Advisers LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $103,000. Horrell Capital Management Inc. purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $104,000. Edge Wealth Management LLC lifted its holdings in Thermo Fisher Scientific by 8,077.8% in the 2nd quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock worth $152,000 after buying an additional 727 shares during the period. Private Capital Group LLC lifted its holdings in Thermo Fisher Scientific by 57.3% in the 1st quarter. Private Capital Group LLC now owns 865 shares of the medical research company’s stock worth $179,000 after buying an additional 315 shares during the period. Finally, Atlas Capital Advisors LLC lifted its holdings in Thermo Fisher Scientific by 59.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 875 shares of the medical research company’s stock worth $185,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Leerink Swann increased their price objective on Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. ValuEngine cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $230.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $300.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $240.82.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 25th. The medical research company reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.12. The company had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.90 billion. Thermo Fisher Scientific had a return on equity of 16.28% and a net margin of 10.36%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 EPS. research analysts expect that Thermo Fisher Scientific Inc. will post 10.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, September 14th. Thermo Fisher Scientific’s payout ratio is presently 7.17%.
Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, September 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Patrick M. Durbin sold 20,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $233.87, for a total value of $4,806,028.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $233.95, for a total value of $11,697,500.00. Following the completion of the transaction, the chief executive officer now owns 320,122 shares of the company’s stock, valued at approximately $74,892,541.90. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
About Thermo Fisher Scientific
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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