Rafferty Asset Management LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 52.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,543 shares of the medical research company’s stock after purchasing an additional 4,337 shares during the period. Rafferty Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $7,166,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in TMO. Meitav Dash Investments Ltd. raised its position in Thermo Fisher Scientific by 0.3% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 44,453 shares of the medical research company’s stock valued at $22,428,000 after purchasing an additional 131 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Thermo Fisher Scientific by 12.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,911 shares of the medical research company’s stock valued at $36,781,000 after purchasing an additional 7,856 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Thermo Fisher Scientific by 4.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,236 shares of the medical research company’s stock worth $1,633,000 after buying an additional 143 shares during the period. Resources Management Corp CT ADV boosted its holdings in shares of Thermo Fisher Scientific by 79.5% in the second quarter. Resources Management Corp CT ADV now owns 3,340 shares of the medical research company’s stock valued at $1,685,000 after buying an additional 1,479 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 13.5% in the second quarter. Cresset Asset Management LLC now owns 10,470 shares of the medical research company’s stock valued at $5,284,000 after purchasing an additional 1,242 shares during the last quarter. 85.93% of the stock is currently owned by institutional investors.
TMO opened at $594.80 on Friday. The company has a market cap of $234.38 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The company has a fifty day moving average price of $636.31 and a two-hundred day moving average price of $587.77. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.56. Thermo Fisher Scientific Inc. has a 1-year low of $433.52 and a 1-year high of $672.34.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Wednesday, December 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, December 14th. This represents a $1.04 annualized dividend and a yield of 0.17%. Thermo Fisher Scientific’s payout ratio is 4.83%.
Thermo Fisher Scientific announced that its board has authorized a stock buyback plan on Thursday, September 23rd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on TMO. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $651.00 target price for the company. in a research report on Friday, January 7th. KeyCorp upped their price objective on shares of Thermo Fisher Scientific from $555.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, September 20th. SVB Leerink boosted their target price on shares of Thermo Fisher Scientific from $675.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. Citigroup boosted their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. Finally, UBS Group boosted their target price on shares of Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, September 21st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus target price of $635.78.
In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 22,550 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $638.10, for a total value of $14,389,155.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark Stevenson sold 26,925 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $632.69, for a total value of $17,035,178.25. The disclosure for this sale can be found here. Insiders sold 76,400 shares of company stock worth $48,437,702 over the last ninety days. Insiders own 0.44% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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