Cigna Investments Inc. New raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,310 shares of the medical research company’s stock after buying an additional 650 shares during the quarter. Cigna Investments Inc. New’s holdings in Thermo Fisher Scientific were worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Laurel Wealth Advisors LLC lifted its stake in Thermo Fisher Scientific by 104.3% in the first quarter. Laurel Wealth Advisors LLC now owns 94 shares of the medical research company’s stock valued at $27,000 after buying an additional 48 shares during the last quarter. Stonebridge Financial Planning Group LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $32,000. Ballast Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $35,000. Savior LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $44,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $44,000. Institutional investors own 88.68% of the company’s stock.
TMO traded up $4.51 during trading on Friday, reaching $340.26. 1,097,619 shares of the stock were exchanged, compared to its average volume of 1,572,086. The business’s 50 day moving average price is $324.75 and its two-hundred day moving average price is $317.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.32 and a quick ratio of 1.69. The company has a market capitalization of $132.60 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 2.25 and a beta of 1.04. Thermo Fisher Scientific Inc. has a 1 year low of $250.21 and a 1 year high of $351.86.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 22nd. The medical research company reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.15. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.18 billion. Thermo Fisher Scientific had a return on equity of 17.25% and a net margin of 14.31%. Thermo Fisher Scientific’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 earnings per share. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 11.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.13%.
In other news, CEO Marc N. Casper sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $333.02, for a total value of $9,990,600.00. Following the sale, the chief executive officer now directly owns 304,946 shares in the company, valued at $101,553,116.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark Stevenson sold 25,000 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $328.03, for a total value of $8,200,750.00. Following the completion of the sale, the chief operating officer now owns 73,538 shares in the company, valued at $24,122,670.14. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.
A number of research analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Thermo Fisher Scientific from $341.00 to $383.00 in a report on Thursday, April 23rd. BTIG Research boosted their target price on Thermo Fisher Scientific from $342.00 to $372.00 and gave the company an “in-line” rating in a report on Friday, January 31st. Argus reissued a “positive” rating and issued a $370.00 target price on shares of Thermo Fisher Scientific in a report on Monday, February 24th. Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $345.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Wells Fargo & Co upped their price objective on Thermo Fisher Scientific from $300.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $347.21.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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