Massmutual Trust Co. FSB ADV lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the third quarter, HoldingsChannel reports. The fund owned 34,356 shares of the medical research company’s stock after selling 426 shares during the quarter. Thermo Fisher Scientific accounts for about 0.9% of Massmutual Trust Co. FSB ADV’s investment portfolio, making the stock its 26th biggest holding. Massmutual Trust Co. FSB ADV’s holdings in Thermo Fisher Scientific were worth $15,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Eastern Bank lifted its holdings in Thermo Fisher Scientific by 16.3% during the second quarter. Eastern Bank now owns 7,545 shares of the medical research company’s stock worth $2,734,000 after acquiring an additional 1,056 shares during the period. Vident Investment Advisory LLC boosted its stake in Thermo Fisher Scientific by 234.8% in the 2nd quarter. Vident Investment Advisory LLC now owns 3,167 shares of the medical research company’s stock worth $1,148,000 after purchasing an additional 2,221 shares during the period. Duality Advisers LP purchased a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $1,501,000. Sage Rhino Capital LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at about $241,000. Finally, Community Bank N.A. lifted its holdings in shares of Thermo Fisher Scientific by 1.9% in the second quarter. Community Bank N.A. now owns 1,818 shares of the medical research company’s stock worth $658,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.
TMO stock traded up $7.33 during trading on Monday, hitting $460.73. 29,801 shares of the company traded hands, compared to its average volume of 1,683,145. The company has a 50-day moving average of $475.01 and a 200-day moving average of $411.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.02 and a current ratio of 2.62. Thermo Fisher Scientific Inc. has a 1 year low of $250.21 and a 1 year high of $532.57. The firm has a market capitalization of $179.70 billion, a PE ratio of 50.11, a P/E/G ratio of 1.86 and a beta of 0.98.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 21st. The medical research company reported $5.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $1.26. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same quarter in the prior year, the firm posted $2.94 earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 15.99 EPS for the current year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Thursday, November 5th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Monday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 7.13%.
In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $479.94, for a total transaction of $4,799,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,694 shares in the company, valued at $109,759,398.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.44% of the stock is currently owned by insiders.
Several research firms have issued reports on TMO. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $485.00 to $535.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Needham & Company LLC increased their price objective on Thermo Fisher Scientific from $477.00 to $539.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $481.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. SVB Leerink raised their price target on Thermo Fisher Scientific from $470.00 to $525.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Atlantic Securities initiated coverage on Thermo Fisher Scientific in a report on Wednesday, September 30th. They set an “overweight” rating and a $494.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $481.13.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines, and diagnosis of diseases to pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets.
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