Thermo Fisher Scientific Inc. (TMO) Shares Sold by Piedmont Investment Advisors Inc.
Piedmont Investment Advisors Inc. trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 66.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,889 shares of the medical research company’s stock after selling 11,541 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. purchased a new position in Thermo Fisher Scientific in the second quarter valued at about $104,000. Atlantic Trust LLC purchased a new position in Thermo Fisher Scientific in the second quarter valued at about $154,000. Summit Financial Group Inc. purchased a new position in Thermo Fisher Scientific in the third quarter valued at about $201,000. Searle & CO. purchased a new position in Thermo Fisher Scientific in the third quarter valued at about $203,000. Finally, Brookstone Capital Management purchased a new position in Thermo Fisher Scientific in the third quarter valued at about $203,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. Thermo Fisher Scientific’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current year.
Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $259.00 target price on the stock in a research note on Monday, July 30th. Leerink Swann upped their price target on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Cleveland Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 25th. Finally, Robert W. Baird upped their price target on shares of Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $261.45.
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Thermo Fisher Scientific 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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