South Dakota Investment Council increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,006 shares of the medical research company's stock after buying an additional 900 shares during the period. South Dakota Investment Council's holdings in Thermo Fisher Scientific were worth $3,984,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $3,149,754,000. GAMMA Investing LLC boosted its position in shares of Thermo Fisher Scientific by 60,610.9% in the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock valued at $1,203,859,000 after acquiring an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after acquiring an additional 858,193 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Thermo Fisher Scientific by 140.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock valued at $569,062,000 after acquiring an additional 639,467 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on TMO. Barclays cut their price objective on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Royal Bank Of Canada cut their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Argus cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, UBS Group cut shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $500.00 to $460.00 in a report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $599.30.
Check Out Our Latest Report on TMO
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock opened at $415.29 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The stock's 50 day moving average price is $410.38 and its two-hundred day moving average price is $472.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The stock has a market capitalization of $156.77 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.21 and a beta of 0.77.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. During the same period last year, the business earned $5.11 EPS. The business's revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.09%.
Insiders Place Their Bets
In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.
Thermo Fisher Scientific Profile
(
Free Report)
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Thermo Fisher Scientific, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Thermo Fisher Scientific wasn't on the list.
While Thermo Fisher Scientific currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
