Third Point LLC purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 350,000 shares of the medical research company's stock, valued at approximately $182,080,000. Thermo Fisher Scientific accounts for 2.4% of Third Point LLC's portfolio, making the stock its 18th largest holding. Third Point LLC owned approximately 0.09% of Thermo Fisher Scientific at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth $29,000. Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,200 shares of company stock worth $13,235,041 in the last three months. 0.33% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
TMO has been the topic of several analyst reports. Scotiabank dropped their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. StockNews.com cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley increased their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus target price of $607.43.
Read Our Latest Report on TMO
Thermo Fisher Scientific Stock Performance
Shares of Thermo Fisher Scientific stock traded up $3.80 on Friday, reaching $423.69. 2,492,422 shares of the company were exchanged, compared to its average volume of 1,769,322. Thermo Fisher Scientific Inc. has a 1-year low of $409.85 and a 1-year high of $627.88. The firm has a market cap of $159.94 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company's 50-day moving average is $476.15 and its two-hundred day moving average is $521.16.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.11 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is 10.09%.
About Thermo Fisher Scientific
(
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.
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