Thermo Fisher Scientific Inc. (NYSE:TMO) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 3,734,377 shares, a decline of 35.2% from the October 14th total of 5,767,056 shares. Based on an average trading volume of 2,130,465 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.9% of the company’s stock are short sold.

TMO has been the subject of several recent analyst reports. Leerink Swann initiated coverage on Thermo Fisher Scientific in a research note on Thursday, November 10th. They issued an “outperform” rating and a $175.00 price target for the company. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research note on Thursday, October 13th. Bank of America Corp. set a $180.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Friday, October 7th. JPMorgan Chase & Co. initiated coverage on Thermo Fisher Scientific in a research note on Thursday, September 22nd. They issued an “overweight” rating and a $180.00 price target for the company. Finally, Cleveland Research cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Friday, September 9th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $164.37.

Thermo Fisher Scientific (NYSE:TMO) opened at 145.81 on Friday. Thermo Fisher Scientific has a 1-year low of $119.75 and a 1-year high of $160.68. The company has a market cap of $57.60 billion, a price-to-earnings ratio of 29.14 and a beta of 1.24. The stock has a 50 day moving average price of $152.92 and a 200-day moving average price of $151.85.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, October 27th. The company reported $2.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.06. The firm earned $4.49 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Thermo Fisher Scientific had a return on equity of 14.95% and a net margin of 11.10%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. On average, equities research analysts forecast that Thermo Fisher Scientific will post $8.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is currently 12.00%.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 30,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $151.17, for a total value of $4,535,100.00. Following the sale, the chief executive officer now directly owns 308,647 shares of the company’s stock, valued at $46,658,166.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 28,797 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $151.01, for a total value of $4,348,634.97. Following the completion of the sale, the chief executive officer now directly owns 307,444 shares in the company, valued at $46,427,118.44. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of TMO. American Research & Management Co. boosted its stake in shares of Thermo Fisher Scientific by 540.0% in the third quarter. American Research & Management Co. now owns 640 shares of the company’s stock worth $102,000 after buying an additional 540 shares in the last quarter. Mycio Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 1.6% in the second quarter. Mycio Wealth Partners LLC now owns 711 shares of the company’s stock worth $105,000 after buying an additional 11 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Thermo Fisher Scientific by 10.6% in the second quarter. Signaturefd LLC now owns 842 shares of the company’s stock worth $124,000 after buying an additional 81 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 100.0% in the third quarter. Penserra Capital Management LLC now owns 864 shares of the company’s stock worth $137,000 after buying an additional 432 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 27.1% in the third quarter. Cable Hill Partners LLC now owns 961 shares of the company’s stock worth $152,000 after buying an additional 205 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

5 Day Chart for NYSE:TMO

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