Daiichi Life Insurance Co. Ltd. bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 16,582 shares of the medical research company’s stock, valued at approximately $8,314,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 34,133,702 shares of the medical research company’s stock worth $19,778,774,000 after acquiring an additional 288,296 shares during the period. J. Stern & Co. LLP raised its position in Thermo Fisher Scientific by 58,006.4% in the fourth quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company’s stock worth $18,258,082,000 after purchasing an additional 31,455,105 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $15,501,867,000. State Street Corp boosted its stake in Thermo Fisher Scientific by 1.4% in the 4th quarter. State Street Corp now owns 16,613,761 shares of the medical research company’s stock valued at $9,633,991,000 after buying an additional 229,630 shares in the last quarter. Finally, Capital World Investors grew its position in Thermo Fisher Scientific by 7.0% in the fourth quarter. Capital World Investors now owns 11,003,814 shares of the medical research company’s stock valued at $6,376,229,000 after acquiring an additional 718,669 shares during the period. Institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Price Performance
Shares of TMO stock opened at $629.02 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $643.99. The stock has a market capitalization of $232.58 billion, a PE ratio of 33.84, a PEG ratio of 2.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55. The stock’s fifty day moving average is $542.53 and its 200-day moving average is $509.70.
Thermo Fisher Scientific Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.11%.
Analysts Set New Price Targets
A number of brokerages have issued reports on TMO. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $620.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 23rd. Piper Sandler lifted their price target on shares of Thermo Fisher Scientific from $510.00 to $600.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Barclays upped their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Thermo Fisher Scientific from $490.00 to $580.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $619.41.
Read Our Latest Analysis on TMO
Insider Buying and Selling at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 11,440 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total value of $7,014,092.80. Following the transaction, the vice president directly owned 14,784 shares in the company, valued at approximately $9,064,366.08. This trade represents a 43.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 27th. The shares were sold at an average price of $565.00, for a total value of $226,000.00. Following the completion of the sale, the chief operating officer directly owned 24,651 shares of the company’s stock, valued at $13,927,815. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 63,493 shares of company stock valued at $37,657,681 over the last three months. Insiders own 0.33% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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