Thermo Fisher Scientific Inc Announces Quarterly Dividend of $0.15 (TMO)
Thermo Fisher Scientific Inc (NYSE:TMO) announced a quarterly dividend on Wednesday, July 12th, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.15 per share by the medical research company on Monday, October 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, September 14th.
Thermo Fisher Scientific has a payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Thermo Fisher Scientific to earn $10.14 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 5.9%.
Shares of Thermo Fisher Scientific (NYSE:TMO) opened at 176.33 on Monday. The stock has a 50 day moving average of $176.88 and a 200 day moving average of $164.14. Thermo Fisher Scientific has a one year low of $139.07 and a one year high of $182.87. The stock has a market cap of $68.77 billion, a P/E ratio of 30.72 and a beta of 1.06.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. On average, analysts forecast that Thermo Fisher Scientific will post $9.24 EPS for the current year.
In other news, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $176.26, for a total transaction of $440,650.00. Following the completion of the transaction, the chief financial officer now directly owns 37,790 shares in the company, valued at approximately $6,660,865.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total value of $3,455,800.00. Following the transaction, the chief executive officer now owns 269,279 shares of the company’s stock, valued at $46,528,718.41. The disclosure for this sale can be found here. Insiders have sold a total of 27,188 shares of company stock valued at $4,702,223 over the last quarter. Corporate insiders own 0.49% of the company’s stock.
TMO has been the subject of several analyst reports. Bank of America Corporation reissued a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC set a $175.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a report on Thursday, May 18th. They issued an “overweight” rating and a $194.00 target price for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $185.00 target price (up from $175.00) on shares of Thermo Fisher Scientific in a report on Saturday, April 29th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $188.56.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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