Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was 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 directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Thermo Fisher Scientific Stock Up 0.6 %
Shares of Thermo Fisher Scientific stock opened at $527.43 on Friday. The company has a market cap of $198.98 billion, a P/E ratio of 31.91, a PEG ratio of 2.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The firm has a fifty day moving average of $548.99 and a two-hundred day moving average of $563.21.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific declared that its board has authorized a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific's dividend payout ratio is 10.41%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on TMO shares. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a "buy" rating in a report on Friday, January 31st. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Finally, Raymond James reiterated an "outperform" rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $653.23.
Check Out Our Latest Analysis on Thermo Fisher Scientific
Hedge Funds Weigh In On Thermo Fisher Scientific
A number of institutional investors and hedge funds have recently made changes to their positions in TMO. Geode Capital Management LLC grew its stake in Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock valued at $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in Thermo Fisher Scientific by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock valued at $5,972,000 after acquiring an additional 995 shares during the last quarter. Greenwood Gearhart Inc. grew its stake in Thermo Fisher Scientific by 9.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock valued at $12,730,000 after acquiring an additional 1,837 shares during the last quarter. Nordea Investment Management AB grew its stake in Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock valued at $28,868,000 after acquiring an additional 10,606 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company's stock valued at $5,528,000 after acquiring an additional 618 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.
Thermo Fisher Scientific Company Profile
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Get 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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