Meiji Yasuda Life Insurance Co trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,267 shares of the medical research company’s stock after selling 1,054 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Thermo Fisher Scientific were worth $3,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 25,208 shares of the medical research company’s stock valued at $6,153,000 after buying an additional 2,225 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Thermo Fisher Scientific by 6.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 18,182 shares of the medical research company’s stock valued at $4,438,000 after buying an additional 1,089 shares during the period. Virginia Retirement Systems ET AL raised its holdings in Thermo Fisher Scientific by 80.0% during the third quarter. Virginia Retirement Systems ET AL now owns 4,500 shares of the medical research company’s stock worth $1,098,000 after purchasing an additional 2,000 shares during the last quarter. Brookstone Capital Management acquired a new position in Thermo Fisher Scientific during the third quarter worth $203,000. Finally, Penserra Capital Management LLC raised its holdings in Thermo Fisher Scientific by 16.5% during the third quarter. Penserra Capital Management LLC now owns 2,300 shares of the medical research company’s stock worth $561,000 after purchasing an additional 325 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 4th. The stock was sold at an average price of $266.00, for a total value of $665,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory J. Herrema sold 3,299 shares of Thermo Fisher Scientific stock in a transaction on Friday, March 1st. The shares were sold at an average price of $263.05, for a total value of $867,801.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,927 shares of company stock valued at $9,388,124. Company insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, January 30th. The medical research company reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.19 by $0.06. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 12.06%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 12.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Friday, March 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.30%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is 6.12%.
Several equities analysts recently issued reports on TMO shares. BTIG Research lifted their price objective on Thermo Fisher Scientific to $290.00 and gave the stock a “buy” rating in a report on Thursday, January 31st. Barclays lifted their price objective on Thermo Fisher Scientific from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, January 3rd. Needham & Company LLC started coverage on Thermo Fisher Scientific in a report on Wednesday, January 2nd. They set a “strong-buy” rating and a $271.00 price objective for the company. Finally, Zacks Investment Research cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average target price of $275.70.
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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