Westpac Banking Corp trimmed its position in Thermo Fisher Scientific Inc (NYSE:TMO) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,239 shares of the medical research company’s stock after selling 2,105 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.0% of Westpac Banking Corp’s holdings, making the stock its 11th biggest holding. Westpac Banking Corp owned about 0.06% of Thermo Fisher Scientific worth $45,642,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Proficio Capital Partners LLC boosted its holdings in Thermo Fisher Scientific by 71.5% in the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after acquiring an additional 253 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Thermo Fisher Scientific in the second quarter valued at $108,000. Cribstone Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 8.7% in the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Thermo Fisher Scientific in the second quarter valued at $113,000. Finally, Ropes Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific by 15.8% in the second quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 97 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on TMO shares. Argus reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Tuesday, August 22nd. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and issued a $200.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 1st. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a report on Thursday, September 7th. Finally, Barclays restated an “overweight” rating and set a $215.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average price target of $205.21.
In related news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $188.39, for a total value of $9,419,500.00. Following the transaction, the chief executive officer now owns 252,577 shares in the company, valued at approximately $47,582,981.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.
Shares of Thermo Fisher Scientific Inc (NYSE TMO) traded up $1.76 during mid-day trading on Thursday, hitting $185.63. 1,550,058 shares of the stock were exchanged, compared to its average volume of 1,561,300. Thermo Fisher Scientific Inc has a 1 year low of $139.88 and a 1 year high of $201.20. The company has a market cap of $73,161.61, a PE ratio of 20.05, a PEG ratio of 1.67 and a beta of 1.06. The company has a current ratio of 1.26, a quick ratio of 0.81 and a debt-to-equity ratio of 0.85.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.07. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 EPS. equities research analysts expect that Thermo Fisher Scientific Inc will post 9.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s payout ratio is 10.19%.
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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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