Investors Buy Shares of Thermo Fisher Scientific (TMO) on Weakness
Traders bought shares of Thermo Fisher Scientific Inc. (NYSE:TMO) on weakness during trading hours on Tuesday. $196.91 million flowed into the stock on the tick-up and $89.31 million flowed out of the stock on the tick-down, for a money net flow of $107.60 million into the stock. Of all companies tracked, Thermo Fisher Scientific had the 13th highest net in-flow for the day. Thermo Fisher Scientific traded down ($2.16) for the day and closed at $208.01
TMO has been the subject of several research reports. Leerink Swann boosted their target price on Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Monday, October 9th. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a report on Thursday, September 21st. Deutsche Bank set a $226.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. Barclays reissued an “overweight” rating and issued a $215.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a report on Monday, September 25th. Finally, Evercore ISI assumed coverage on Thermo Fisher Scientific in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $220.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $212.21.
The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.81 and a current ratio of 1.26. The firm has a market cap of $83,411.05, a P/E ratio of 35.90, a P/E/G ratio of 1.69 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, December 14th. Thermo Fisher Scientific’s payout ratio is 10.19%.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $191.74, for a total transaction of $9,587,000.00. Following the transaction, the chief executive officer now owns 302,577 shares in the company, valued at approximately $58,016,113.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covington Capital Management increased its position in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Covington Capital Management now owns 2,144 shares of the medical research company’s stock worth $374,000 after purchasing an additional 20 shares during the period. Investment Centers of America Inc. increased its position in Thermo Fisher Scientific by 1.6% during the 2nd quarter. Investment Centers of America Inc. now owns 1,317 shares of the medical research company’s stock worth $230,000 after purchasing an additional 21 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in Thermo Fisher Scientific by 0.4% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 6,250 shares of the medical research company’s stock worth $1,090,000 after purchasing an additional 23 shares during the period. Bienville Capital Management LLC increased its position in Thermo Fisher Scientific by 1.6% during the 2nd quarter. Bienville Capital Management LLC now owns 1,687 shares of the medical research company’s stock worth $295,000 after purchasing an additional 27 shares during the period. Finally, Savant Capital LLC increased its position in Thermo Fisher Scientific by 1.0% during the 2nd quarter. Savant Capital LLC now owns 2,793 shares of the medical research company’s stock worth $487,000 after purchasing an additional 29 shares during the period. Institutional investors own 86.25% of the company’s stock.
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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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