Insider Selling: Thermo Fisher Scientific Inc (TMO) Director Sells $1,957,334.92 in Stock
Thermo Fisher Scientific Inc (NYSE:TMO) Director Jim P. Manzi sold 11,318 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the transaction, the director now owns 38,757 shares of the company’s stock, valued at approximately $6,702,635.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Thermo Fisher Scientific Inc (NYSE:TMO) opened at 172.57 on Monday. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $182.87. The firm has a market cap of $67.32 billion, a PE ratio of 30.06 and a beta of 1.06. The stock’s 50 day moving average is $176.71 and its 200-day moving average is $166.56.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.03. The company had revenue of $5 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. Analysts expect that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.45%.
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TMO has been the subject of several recent research reports. Deutsche Bank AG increased their target price on shares of Thermo Fisher Scientific from $163.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, April 28th. BTIG Research increased their target price on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. 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. Leerink Swann set a $187.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation increased their target price on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus price target of $188.56.
Several institutional investors have recently modified their holdings of TMO. Proficio Capital Partners LLC increased its stake in Thermo Fisher Scientific by 71.5% in the first quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after buying an additional 253 shares during the period. Cribstone Capital Management LLC increased its stake in Thermo Fisher Scientific by 8.7% in the second quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after buying an additional 50 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $113,000. Chicago Partners Investment Group LLC acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $108,000. Finally, CWM LLC increased its stake in Thermo Fisher Scientific by 17.0% in the second quarter. CWM LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after buying an additional 103 shares during the period. 87.60% of the stock is currently owned by institutional investors.
Thermo Fisher Scientific Company Profile
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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