Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Thermo Fisher Scientific Inc. (TMO)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 23.6% during the third quarter, Holdings Channel reports. The institutional investor owned 152,469 shares of the medical research company’s stock after selling 47,043 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Thermo Fisher Scientific were worth $37,215,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Thermo Fisher Scientific by 0.9% during the third quarter. BlackRock Inc. now owns 25,233,243 shares of the medical research company’s stock worth $6,158,932,000 after buying an additional 226,824 shares during the last quarter. FMR LLC boosted its holdings in Thermo Fisher Scientific by 18.5% during the third quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock worth $1,586,310,000 after buying an additional 1,016,082 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Thermo Fisher Scientific by 0.7% during the third quarter. Wells Fargo & Company MN now owns 3,213,226 shares of the medical research company’s stock worth $784,285,000 after buying an additional 23,811 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Thermo Fisher Scientific by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,670,961 shares of the medical research company’s stock worth $553,246,000 after buying an additional 82,255 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Thermo Fisher Scientific by 1.7% during the second quarter. Janus Henderson Group PLC now owns 2,036,659 shares of the medical research company’s stock worth $421,880,000 after buying an additional 34,401 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $261.00 target price on the stock in a report on Monday, August 6th. Leerink Swann raised their target price on Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. UBS Group assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 9th. They set a “buy” rating and a $295.00 target price on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $300.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, Goldman Sachs Group cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $263.55.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the business posted $2.31 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 7.17%.
Thermo Fisher Scientific announced that its board has approved a stock buyback plan 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 buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was 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 at this hyperlink. Also, Director Tyler Jacks sold 4,772 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $239.75, for a total value of $1,144,087.00. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
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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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