Rehmann Capital Advisory Group grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 3,288 shares of the medical research company’s stock after acquiring an additional 173 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Thermo Fisher Scientific were worth $803,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Thermo Fisher Scientific by 1.2% in the third quarter. Vanguard Group Inc. now owns 29,271,095 shares of the medical research company’s stock worth $7,144,489,000 after acquiring an additional 347,836 shares during the period. BlackRock Inc. grew its position in Thermo Fisher Scientific by 0.9% in the third quarter. BlackRock Inc. now owns 25,233,243 shares of the medical research company’s stock worth $6,158,932,000 after acquiring an additional 226,824 shares during the period. Capital World Investors grew its position in Thermo Fisher Scientific by 19.2% in the third quarter. Capital World Investors now owns 15,412,242 shares of the medical research company’s stock worth $3,761,820,000 after acquiring an additional 2,482,783 shares during the period. FMR LLC grew its position in Thermo Fisher Scientific by 18.5% in the third quarter. FMR LLC now owns 6,499,139 shares of the medical research company’s stock worth $1,586,310,000 after acquiring an additional 1,016,082 shares during the period. Finally, Morgan Stanley grew its position in Thermo Fisher Scientific by 2.4% in the third quarter. Morgan Stanley now owns 4,486,815 shares of the medical research company’s stock worth $1,095,142,000 after acquiring an additional 104,302 shares during the period. Institutional investors and hedge funds own 86.98% of the company’s stock.
TMO has been the subject of several analyst reports. Citigroup increased their price objective on Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. UBS Group initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, October 9th. They issued a “buy” rating and a $295.00 price objective for the company. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective for the company in a research report on Monday, October 1st. Cleveland Research lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Finally, Goldman Sachs Group cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Monday, September 17th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $263.64.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.07. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 11.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be paid a $0.17 dividend. 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 payout ratio is currently 7.17%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, September 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, insider Gregory J. Herrema sold 17,235 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $247.00, for a total value of $4,257,045.00. Following the sale, the insider now directly owns 26,446 shares in the company, valued at $6,532,162. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tyler Jacks sold 1,100 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $251.98, for a total value of $277,178.00. Following the completion of the sale, the director now owns 5,879 shares in the company, valued at $1,481,390.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,627 shares of company stock worth $36,744,510. 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.
Further Reading: Asset Allocation, Balancing Your Investments
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