American International Group Inc. Reduces Stake in Thermo Fisher Scientific Inc. (TMO)
American International Group Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,228 shares of the medical research company’s stock after selling 6,509 shares during the quarter. American International Group Inc.’s holdings in Thermo Fisher Scientific were worth $29,748,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in TMO. Amalgamated Bank grew its holdings in Thermo Fisher Scientific by 57.0% in the 2nd quarter. Amalgamated Bank now owns 44,921 shares of the medical research company’s stock worth $7,837,000 after buying an additional 16,308 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Thermo Fisher Scientific by 2.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 47,728 shares of the medical research company’s stock worth $8,327,000 after buying an additional 977 shares in the last quarter. Mitchell Capital Management Co. grew its holdings in Thermo Fisher Scientific by 40.3% in the 2nd quarter. Mitchell Capital Management Co. now owns 44,940 shares of the medical research company’s stock worth $7,841,000 after buying an additional 12,910 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 580,712 shares of the medical research company’s stock worth $101,317,000 after buying an additional 5,213 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $1,451,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
A number of brokerages recently issued reports on TMO. Zacks Investment Research lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Barclays reissued an “overweight” rating and issued a $215.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. Argus reissued a “buy” rating on shares of Thermo Fisher Scientific in a report on Tuesday, August 22nd. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating and issued a $195.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, September 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $220.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $205.21.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.07. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.03 billion. Thermo Fisher Scientific had a return on equity of 15.94% and a net margin of 11.73%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. analysts predict that Thermo Fisher Scientific Inc. will post 9.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.19%.
In other news, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $188.39, for a total transaction of $9,419,500.00. Following the completion of the sale, the chief executive officer now directly owns 252,577 shares of the company’s stock, valued at approximately $47,582,981.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.
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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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